United

Bitcoin

Grayscale Bitcoin Trust

<h2 id="key-points">Key Points</h2>
<ul>
 <li>Bitcoin (BTC) experienced new volatility as the Wall Street trading session opened on March 27.</li>
 <li>The BTC price saw a sudden correction after reaching its highest levels in nearly two weeks.</li>
</ul>
<h2 id="bitcoin-faces-new-volatility">Bitcoin Faces New Volatility</h2>
<p>Bitcoin experienced fresh volatility as the Wall Street trading session began on March 27. Analysts suggested that short liquidations were overdue, which may have contributed to the market turbulence.</p>
<p>The BTC price action reached its highest levels in nearly two weeks, hitting $71,754 on Bitstamp. However, a sudden correction led to a drop of $1,300 in minutes, totaling more than a 4% decrease.</p>
<h2 id="market-observations-and-predictions">Market Observations and Predictions</h2>
<p>The latest data showed encouraging flows for the United States spot Bitcoin exchange-traded funds (ETFs). After net inflows of more than $400 million the day prior, Wall Street trading began with a modest 1,300 BTC ($91 million) outflow from the Grayscale Bitcoin Trust (GBTC).</p>
<p>Liquidating short BTC positions has become a key topic of discussion among market observers. The latest data from on-chain monitoring resource CoinGlass showed bids thickening around $69,000, potentially providing a safety net should the market reverse.</p>
<p>As the BTC price hovered around $68,500, some market analysts called for calm. They suggested that this price point could form a potentially suitable long entry and would not necessarily signify a major corrective move.</p>
<p>There were also suggestions that a further correction could be on the horizon before the price attempts to reach all-time highs again.</p>

Bitcoin Nearing Two-Week Peak as Volatility Wipes Out Sell Orders

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