Bitcoin

when

April

<ul><li><strong>At the time of writing, Bitcoin is trading at $52,273, down 0.16% in the last 24 hours.</strong></li><li><strong>If the price manages to go below the $50,700 mark then the price will likely test $49,750.</strong></li></ul><p>There has been a dramatic change in the Bitcoin liquidity scenario, especially on U.S cryptocurrency exchanges. The advent of exchange-traded funds (<a href="https://thenewscrypto.com/bitcoin-etfs-could-push-btc-price-to-112k-in-2024-cryptoquant/" rel="noopener noreferrer nofollow">ETFs</a>) in the U.S is largely responsible for the dramatic increase in liquidity shown in recent statistics.</p><p>The liquidity dynamics of <a href="https://thenewscrypto.com/altcoins-open-interest-surges-amid-bitcoin-futures-hit-23-billion/" rel="noopener noreferrer nofollow">Bitcoin</a> have changed significantly, with US-based crypto exchanges benefiting the most, according to a new report by research firm Kaiko. The majority of the bids and asks within 2% of Bitcoin’s mid-price have occurred on U.S trading platforms since the US spot ETFs were established, according to the research.</p><p>There will be a likely huge supply shock in the crypto market in April of this year, when Bitcoin’s halving event takes place. Its price might be greatly affected by this.</p><h3 class="wp-block-heading" id="h-bulls-in-control">Bulls in Control</h3><p>Last week, Bitcoin surged beyond $52,000, a figure not seen since December 2021, causing the total crypto market cap to soar to an incredible $2 trillion. A number of cryptocurrencies have responded favorably to this upward trend, mimicking the behavior of BTC.</p><p>With the exception of a few altcoins that have performed sluggishly, most cryptocurrencies have provided returns for investors over the medium to long term, according to the most recent research by Santiment.</p><p>At the time of writing, Bitcoin is trading at $52,273, down 0.16% in the last 24 hours as per data from CoinMarketCap. Moreover, the trading volume is up 23.04%. The price has been consolidating lately hinting towards a likely breakout in either direction.</p><div class="wp-block-image"><figure class="aligncenter size-full"><img width="630" height="380" src="https://thenewscrypto.com/wp-content/uploads/2024/02/BTC_7D_graph_coinmarketcap-2.png" alt="" class="wp-image-92005"><figcaption class="wp-element-caption"> Source: <a rel="noopener noreferrer nofollow">CoinMarketCap</a></figcaption></figure></div><p>If the price manages to go past $52,690 level, then it will likely surge further to test $56,200 resistance level. However, if the price manages to go below the $50,700 mark then the price will likely test $49,750 support level.</p>

Bitcoin Consolidates as Bulls Strongly Hold Price Over $52K Level

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