Bitcoin

<ul> 
 <li><strong>Bitcoin (BTC) is holding strong above $52,000.</strong></li> 
 <li><strong>Investor sentiment has turned bullish, with growing interest in call options priced above $60,000.</strong></li> 
</ul> 
<p>Recently, Bitcoin (BTC) has broken through the $52,000 barrier, fueled by sustained interest from institutional traders who continue to drive up demand for the cryptocurrency. The surge in Bitcoin’s price reflects a notable shift in investor sentiment, with a particular focus on call options set at <a href="https://thenewscrypto.com/bitcoin-btc-price-prediction/" target="_blank" rel="noreferrer noopener">high strike prices</a>, indicating robust confidence in Bitcoin’s potential for further treasuring.</p> 
<p>Further, investors are increasingly eyeing call options above $60,000, underscoring a bullish outlook on Bitcoin’s trajectory and signaling anticipation for significant price gains. Amidst this optimistic backdrop, Bitcoin is <a href="https://thenewscrypto.com/why-is-bitcoin-btc-pumping/" target="_blank" rel="noreferrer noopener">consolidating gains</a> above the $52,000 resistance level and trading comfortably above the 100-hourly simple moving average, currently hovering around $52,350.</p> 
<div class="wp-block-image"> 
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  <img decoding="async" width="1024" height="514" src="https://thenewscrypto.com/wp-content/uploads/2024/02/image-70-1024x514.png" alt="" class="wp-image-91730" srcset="https://thenewscrypto.com/wp-content/uploads/2024/02/image-70-1024x514.png 1024w, https://thenewscrypto.com/wp-content/uploads/2024/02/image-70-300x151.png 300w, https://thenewscrypto.com/wp-content/uploads/2024/02/image-70-768x385.png 768w, https://thenewscrypto.com/wp-content/uploads/2024/02/image-70.png 1297w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   <em>Bitcoin (BTC) Price Chart (Source: TradingView)</em>
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 </figure>
</div> 
<p>Although there was a slight dip below the $52,800 mark recorded on February 15, Bitcoin has managed to maintain its upward momentum. If the trend continues, the immediate resistance lies near $52,700, with key resistance levels at $53,250 and $53,860. A decisive breach above these levels could pave the way for a rally towards $54,000, with <a href="https://thenewscrypto.com/crypto-fear-and-greed-index-enters-extreme-greed-zone-amid-bitcoin-rally/" target="_blank" rel="noreferrer noopener">further upside</a> potential towards $55,000.</p> 
<p>Conversely, failure to surpass the $52,800 resistance zone could trigger a downside correction. Initial support is at around $51,700, followed by a crucial support level at $51,500. A break below $51,300 may signal bearish momentum, potentially leading to a retreat toward the $50,200 support zone and $49,450.</p> 
<h3 class="wp-block-heading" id="h-microstrategy-seen-huge-profit-in-btc">MicroStrategy Seen Huge Profit in BTC&nbsp;</h3> 
<p>MicroStrategy, a leading business intelligence firm, has reported <a href="https://assets.contentstack.io/v3/assets/bltb564490bc5201f31/blt9fe0e76f0b8b3ab0/65c29cdcd6cf0435f215211d/microstrategy-q4-2023-earnings-presentation.pdf" target="_blank" rel="noreferrer noopener nofollow">staggering profits</a> from its Bitcoin holdings, which now exceed $10 billion. The company’s strategic investment in Bitcoin, initiated in 2020, has yielded remarkable returns, with its 190,000 Bitcoins valued at $10 billion as of the firm’s Q4 2023 report. MicroStrategy’s cost basis of $5.93 billion reflects a significant 70% unrealized profit from the weighty gains derived from its Bitcoin bet.</p>

Bitcoin Stays at $52K. Is a BTC Correction Coming Soon?

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