{"id":221597,"date":"2021-04-08T04:57:29","date_gmt":"2021-04-08T01:57:29","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-bulls-return-after-btc-bounces-at-a-key-support-level\/"},"modified":"2021-04-08T04:57:29","modified_gmt":"2021-04-08T01:57:29","slug":"bitcoin-bulls-return-after-btc-bounces-at-a-key-support-level","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-bulls-return-after-btc-bounces-at-a-key-support-level\/","title":{"rendered":"# Bitcoin bulls return after BTC bounces at a key support level"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a21ec3ab67eb\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a21ec3ab67eb\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-bulls-return-after-btc-bounces-at-a-key-support-level\/#Traditional_markets_near_record_highs\" >Traditional markets near record highs<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-bulls-return-after-btc-bounces-at-a-key-support-level\/#Coinbase_listing_provides_a_little_relief\" >Coinbase listing provides a little relief<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Bitcoin bulls return after BTC bounces at a key support level <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-5a136f3a>A wave of selling took command of the cryptocurrency market on April 7 after Bitcoin (BTC) price dropped below $56,000. <\/p>\n<p>The market-wide sell-off led to $1.4 billion in liquidations and some analysts suggested that this could be the final sweep out of overleveraged long traders before\u00a0Bitcoin can make a run higher to the $70,000 level.\u00a0<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-04\/6437ac2f-78b8-4bfe-813f-4cb1410be723.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USDT daily chart. Source: <\/em><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSDT\/\"><em>TradingView<\/em><\/a><\/figcaption><\/figure>\n<p>One sign that the market had moved ahead of itself over the past week was the rapidly rising Kimchi premium, which was followed by a seven percent decline in BTC price\u00a0on April 7 as traders worried that it might be the signal for a market top. <\/p>\n<p>Despite the market downturn, analysis of on-chain data suggests that Bitcoin could soon see a rally to a new all-time high as whales, miners and long-term holders have decreased or stopped selling altogether and institutional demand remains high. <\/p>\n<h2><span class=\"ez-toc-section\" id=\"Traditional_markets_near_record_highs\"><\/span>Traditional markets near record highs<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Equities markets traded near their all-time highs on Tuesday as\u00a0accelerating job growth, record levels of service sector activity and an expansion in manufacturing resulted in unexpected optimism that pushed stock prices higher. <\/p>\n<p>Despite this positive <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a>, the Dow and NASDAQ closed down 0.06% and 0.16% respectively, while the S&amp;P 500 managed to end the day with a 0.06% gain.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Coinbase_listing_provides_a_little_relief\"><\/span>Coinbase listing provides a little relief<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>A few altcoins did manage to rally throughout the day after Coinbase revealed that it would list 1INCH, Enjin (ENJ), New Kind of Network (NKN) and Origin Protocol (OGN) on Coinbase Pro.\u00a0<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Starting today, inbound transfers for 1INCH, ENJ, NKN &amp; OGN are available in the regions where trading is supported. Traders cannot place orders and no orders will be filled. Trading will begin on or after 9AM PT on Fri 4\/9 if liquidity conditions are met. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/L5KlZvMiuA\">https:\/\/t.co\/L5KlZvMiuA<\/a><\/p>\n<p>\u2014 Coinbase Pro (@CoinbasePro) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CoinbasePro\/status\/1379841847388934147?ref_src=twsrc%5Etfw\">April 7, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Following the announcement, the price of 1INCH and ENJ saw modest gains of 5% while Origin Protocol saw a 10% increase and NKN rallied 27%. <\/p>\n<p>Solana (SOL) also rallied 10% and Ethereum (ETH) declined 7% to trade below $2,000.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-04\/cd26b5f1-b0f6-4df5-b285-d540acd9f3a2.png\"><figcaption style=\"text-align: center;\"><em>Daily cryptocurrency market performance. Source: <\/em><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coin360.com\/\"><em>Coin360<\/em><\/a><\/figcaption><\/figure>\n<p>The overall cryptocurrency market cap now stands at $1.90 trillion and Bitcoin\u2019s dominance rate is 55.6%.<\/p>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-bulls-return-after-btc-bounces-at-a-key-support-level\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bitcoin bulls return after BTC bounces at a key support level &#8221; A wave of selling took command of the cryptocurrency market on April 7 after Bitcoin (BTC) price dropped below $56,000. The market-wide sell-off led to $1.4 billion in liquidations and some analysts suggested that this could be the final sweep out of&#8230;<\/p>\n","protected":false},"author":1,"featured_media":221598,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDQvY2NiOWY3MmUtMTAyMi00YzhjLWEzNzYtN2E5NWE5M2Q2ZmRmLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,74862,74937,74956,74863,74860,78810,82402,74891,75150,73785],"class_list":["post-221597","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-bitcoin","tag-bitcoin-price","tag-coinbase","tag-cryptocurrencies","tag-cryptocurrency-exchange","tag-enjin","tag-ether-price","tag-ethereum","tag-market-update","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/221597","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=221597"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/221597\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/221598"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=221597"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=221597"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=221597"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}