BTC Price Rebounds as It Hits the $27.5K Low

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Bitcoin Hits the $27.5K Low Due to a Lack of Buyers at Higher Price Levels – April 3, 2023

The largest cryptocurrency is bouncing as it hits the $27.5K low. Also, it is approaching the moving average lines, supporting the current rise. The Bitcoin price has been range-bound between $26,500 and $28,500 since March 19 in expectation of a breakout over the $28,500 high. The upward trend has stalled because there aren’t many buyers at higher price points.

Bitcoin Price Statistics Data:•Bitcoin price now – $28,064.20•Bitcoin market cap – $544,108,378,301•Bitcoin circulating supply – 19,335,818 BTC•Bitcoin total supply – $590,938,327,218•Bitcoin Coinmarketcap ranking – # 1

Resistance Levels: $50,000, $55, 000, $60,000 Support Levels: $25,000, $20,000, $15,000

The price of Bitcoin reached a high of $29, 171 on March 30 during the market recovery before being halted. For the first time, buyers will keep the price above the $29,000 barrier level. The bulls failed to keep the bullish momentum above the $29,000 high because there weren’t enough buyers. After a recent decline, the cost of one Bitcoin is now trading at $28,064. The oversold sector of the market is approaching the current collapse. The selling pressure is probably going to reduce when the price gets closer to its previous low of $27,000. In the past, the price of Bitcoin fluctuated between $26,500 and $28,500. The current selling pressure might ease if buyers support the $27,000 mark. BTC/USD is at level 57 on the Relative Strength Index for period 14. The price of Bitcoin is rising and has room to go substantially higher.

About 3,600 Bitcoin ATMS Went Offline to Record the Largest Monthly Drop – Hits the $27.5K low

March 2023 will go down in history as the month with the highest monthly decrease of cryptocurrency ATMs after 3,627 of them were lost last month. The first publicly accessible Bitcoin ATM, run by Robocoin, was reportedly unveiled on October 29, 2013, in a coffee shop in downtown Vancouver, Canada. 348 transactions totaling $100,000 were made at the cryptocurrency ATM during its first week of operation. Robocoin stopped operations on October 30, 2022, nine years and one day later. The first cryptocurrency ATM has probably been dismantled or replaced, but the number of crypto ATMs has continued to rise, with 38,804 currently in operation, according to Coin ATM Radar. The United States now has roughly 88% of the world’s supply of cryptocurrency ATMs and is responsible for 90% of all newly installed ATMs over the past few months, making it the new location of the crypto ATM industry.

BTC/USD – 4 Hour Chart

The selling pressure subsides as Bitcoin hits the $27.5K low. BTC’s price is on the verge of falling into the lower price range. Historically, during falls, buyers have recouped over the $27,000 support. If the $27,000 support level holds, Bitcoin will begin its range-bound climb. The crypto will return to and retest the $29,000 overhead resistance.

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BTC price has reached bearish exhaustion as it reaches the oversold region. The crypto asset is resuming a fresh uptrend to revisit the resistance at $29,000. If the resistance is continuously tested, Bitcoin’s upward momentum will accelerate and the $29,000 barrier might be overcome. Some well-known cryptocurrencies and LHINU tokens are in the bullish trend zone as they prepare for the second leg of rising momentum. Investors are interested in the new LHINU coins because of their excellent appreciation. Less than 4 days remain in this presale for LHINU purchases. Be prompt. Go quickly and take the opportunity to avoid missing out. If you sleep, you lose. LoveHateInu is the best voting token, people. Discuss hot topics and get prizes like never before. Place your LHINU order right now. Keep from missing out. During the presale, almost $2.5 million has already been raised.

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