Can Bitcoin seal its best weekly close of 2022? BTC price sits at $46.5K

Bitcoin (BTC) bulls had everything to play for connected April 3 arsenic the archetypal play adjacent of the period looked acceptable to beryllium supra the all-important $46,000.

BTC/USD 1-hour candle illustration (Bitstamp). Source: TradingView

Anything could hap successful last hours of Sunday

Data from Cointelegraph Markets Pro and TradingView painted an absorbing representation Sunday, arsenic commentators waited for immoderate classical end-of-week volatility.

BTC/USD had delivered fewer surprises implicit the weekend, with an overnight dip to adjacent $45,500 the worst that hodlers had to confront.

Now, the likelihood were connected for a imaginable 2nd play adjacent supra the 2022 yearly unfastened of $46,200. 

— Matthew Hyland (@MatthewHyland_) April 3, 2022

At astir $46,500 astatine the clip of writing, Bitcoin had plentifulness of potential, but adjacent a mean last-minute pullback could marque the play illustration look rather different.

Add different $500, by contrast, and the play adjacent would beryllium Bitcoin's highest of the y

"Bitcoin inactive holding important level here, truthful continuation seems apt to beryllium happening if we stay supra $45K," Cointelegraph contributor Michaël van de Poppe stated Saturday connected the broader representation beyond the play close.

Van de Poppe, like others, was eyeing a challenge of $50,000 successful the coming week based connected caller strength.

"Riskier" altcoins' entreaty gets boost

Data covering inflows into crypto markets meantime showed renewed appetite for altcoins implicit the past week.

Related: Solana jumps past cardinal selloff junction: SOL terms eyes $150 successful April

As noted by Yann Allemann and Jan Happel, co-founders of on-chain analytics steadfast Glassnode, those altcoin inflows had accrued successful measurement with diminishing upside connected BTC.

Total inflows past week were astir $200 million, with Bitcoin reponsible for astir fractional the tally.

— (@Negentropic_) April 2, 2022

Risk appetite successful the abbreviated word frankincense contradicted forecasts of a hazard plus rout engendered by macro factors, thing analysts nevertheless had tipped to become a feature successful Q2.