Bitcoin

April

Spot

<ul> 
 <li>Bitcoin is currently trading within the range of $57,150–$57,500.</li> 
 <li>Spot Bitcoin ETFs witnessed remarkable activity, hitting record trading volumes of $3.05 billion.</li> 
</ul> 
Bitcoin (BTC) continues its upward trajectory, rallying toward the $58,000 mark amidst heightened demand for spot Bitcoin ETFs. With BTC ETF <a href="https://thenewscrypto.com/surge-in-bitcoin-etf-trading-volume-reflects-shifting-investor-sentiment/" target="_blank" rel="noreferrer noopener">trading volumes</a> surpassing $3.05 billion for the second consecutive day, the market witnesses significant activity, notably with IBIT setting a new record of $1.32 billion in trading volume. 
The Bitcoin price surge has seen it breach key resistance levels, including $57,500, reaching as high as $57,537. Currently, Bitcoin is trading above $57,150, maintaining stability above this crucial level of $57,100. Also, the on-chain indicators point to <a href="https://thenewscrypto.com/bitcoin-btc-climbs-above-57k-for-the-first-time-in-two-years/" target="_blank" rel="noreferrer noopener">continued strength</a>, with whale accumulation persisting over the past week. 
Further, the global market cap has surged past $2.26 trillion following the BTC rally into the $57,150-$57,500 range. Additionally, the upcoming halving event, anticipated to occur on April 24th, is expected to drive more gains in the BTC market. 
<h3 class="wp-block-heading" id="h-bitcoin-btc-price-action">Bitcoin (BTC) Price Action</h3> 
Analysts anticipate further <a href="https://thenewscrypto.com/bitcoin-btc-price-prediction/" target="_blank" rel="noreferrer noopener">upward movement</a>, with projections indicating a potential climb to $60,000. According to the daily price chart, if the current trend persists, Bitcoin could potentially reach $57,850, paving the way for BTC to hit $60,230 and potentially touch its all-time high of approximately $69,000. 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large">
 <img decoding="async" width="1024" height="511" src="https://thenewscrypto.com/wp-content/uploads/2024/02/image-142-1024x511.png" alt="" class="wp-image-92584" srcset="https://thenewscrypto.com/wp-content/uploads/2024/02/image-142-1024x511.png 1024w, https://thenewscrypto.com/wp-content/uploads/2024/02/image-142-300x150.png 300w, https://thenewscrypto.com/wp-content/uploads/2024/02/image-142-768x383.png 768w, https://thenewscrypto.com/wp-content/uploads/2024/02/image-142.png 1302w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption">
 Bitcoin (BTC) Price Chart (Source: <a href="https://in.tradingview.com/symbols/BTCUSDT/?exchange=BINANCE" target="_blank" rel="noreferrer noopener nofollow">TradingView</a>)
 </figcaption>
 </figure>
</div> 
However, there are warnings of a possible reversal in the trend. If the current bullish momentum reverses, BTC may decline to $56,850, or even $56,340. A further decline to $55,900 could prompt an outflow from the BTC market, potentially triggering significant movement below the $55,000 threshold. 
Despite these potential challenges, the overall sentiment remains bullish, driven by increasing <a href="https://thenewscrypto.com/microstrategy-buys-more-bitcoin-boosts-its-holdings-to-193k-btc/" target="_blank" rel="noreferrer noopener">institutional interest</a> and sustained investor confidence in Bitcoin’s long-term potential.

Bitcoin Heads Towards $58,000 Amid Record Spot ETF Trading

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