Bitcoin has once again shown its resolved resiliency by bouncing back above the $38,000 threshold. This recovery comes on the heels of a brief dip below $37,000 amidst last week’s upheaval surrounding crypto exchange enforcement actions. But true to form, the bellwether cryptocurrency quickly reclaimed critical support.
Keypoints
- Bitcoin price rebounded back above $38k after dipping below $37k earlier this week
- Bullish sentiment driven by upcoming 2024 halving event and belief $35k level will hold as new support
- On-chain data shows most holders not panic selling at loss anymore, indicates bottoms are in
- Analysts predict BTC could reach $100k by end of 2024, driven by spot ETF approvals
- Bloomberg experts forecast high chance of SEC approving Bitcoin spot ETFs by January 2024
This demonstration of stability restored confidence for investors as BTC projects strength heading into several potential macro catalysts that…
