Bitcoin recovers to $49.7k after failing to find support above $50k

7 months ago

Bitcoin (BTC) saw its terms retrieve supra $49,700 connected the evening of Feb. 13 — closing successful connected its earlier regular high.

As of 9:50 p.m. UTC, Bitcoin was priced astatine $49,726. Though Bitcoin is down 0.4% implicit 24 hours, that terms represents 0.7% maturation implicit 1 hr and 2.8% maturation from its regular low.

Bitcoin’s $49,726 terms notably represents a partial betterment to $50,000, a milestone it surpassed connected Monday for the archetypal clip since December 2021. After touching $50,240 for the past clip astatine 10:00 a.m., BTC fell by 3.7% to $48,385 implicit respective hours.

Bitcoin liable for 43% of hourly liquidations

Bitcoin was liable for overmuch of the crypto market’s $6.48 cardinal liquidations implicit the past hour. BTC’s $2.81 cardinal successful liquidations accounted for astir 43% of that total, portion Ethereum’s $1.83 cardinal accounted for different 28%.

The wide full is mostly made up of abbreviated liquidations. Short liquidations accounted for $6.24 million, portion agelong liquidations accounted for the remaining $227,000.

Bitcoin ETF measurement reached $1.93B

Finally, the Bitcoin ETF market saw $1.93 cardinal successful measurement today. Spot Bitcoin ETFs (as opposed to Bitcoin futures ETFs) accounted for $1.56 cardinal of that volume. Funds from Grayscale, BlackRock (iShares), and Fidelity reported the 3 largest volumes.