Bitcoin: Here's What Traders Can Expect After BTC's Slow and Steady Return
Categories: Crypto News US
Bitcoin: Here's What Traders Can Expect After BTC's Slow and Steady Return
Bitcoin (BTC) has managed to show some optimism among traders in recent days. King Crypto is on track to register its biggest weekly gain in the last nine weeks. The news follows BTC's worst quarterly performance that ended in June. Leading Indicators Are Moving Bitcoin in the Right Direction After Stabilizing Around $21,550.
Bitcoin is again in the center of attention in the crypto community. But this time, it is only for the right reasons as the master cryptocurrency is making a comeback in early July. According to CoinMarketCap, BTC is currently trading slightly above $21,550. It is looking to maintain its fortress around this area, despite the relative drop of 1.2% in the past.
Nonetheless, BTC has managed to rise by 12.2% over the past week. A major reason for the bull activity is the accumulation of bitcoin shards (holding between 10 BTC - 100 BTC). As seen by sentiment, the sharks have reshaped their accumulations in the five-week trend. During this period, BTC fell in value by 27%, during which Shark added 52k BTC to its ranks.