Bitcoin

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-shows-signs-of-recovery-as-it-surpasses-59000/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin Shows Signs of Recovery as It Surpasses $59,000</a><br></p>
<p style="text-align: justify"><a href="https://coin-turk.com/abdli-senator-bitcoinin-btc-buyuk-potansiyele-sahip-oldugunu-aktardi" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> has been at the forefront of the financial world lately. <strong><a href="https://coin-turk.com/tom-lee-bitcoin-yarim-milyon-dolari-gorebilir" data-wpel-link="internal" rel="noopener noreferrer nofollow">BTC</a></strong> is preparing to take a significant step towards reclaiming its all-time high of $69,000. After a prolonged period of sideways movement, the leading cryptocurrency has signaled a recovery by exceeding $59,000 for the first time since December 2021. Currently, <a href="https://en.coin-turk.com/bitcoin-analyst-credible-crypto-warns-of-downward-movement-after-reaching-27000/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> has risen to its intraday high of $59,487, marking a 4.27% increase.</p>
<h2 style="text-align: justify" id="potential-selling-pressure-on-bitcoin">Potential Selling Pressure on Bitcoin</h2>
<p style="text-align: justify">It is important to note that Bitcoin is at a critical juncture in its recovery process. According to IntoTheBlock’s data, there are a total of 1.49 million significant addresses that have purchased approximately 433,000 Bitcoins at prices ranging from $56,961 to $67,413. This indicates that many Bitcoin holders are nearing a profit at the cryptocurrency’s current price, which could create potential selling pressure.</p>
<p><img loading="lazy" decoding="async" loading="lazy" class="wp-image-320651 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/02/btc-adres-coin-turk-com-.png" alt="" width="1912" height="420"></p>
<p style="text-align: justify">In the event of a potential correction in Bitcoin’s price, the next significant support level could be between $55,134 and $56,961. Within this price range, more than 991,000 addresses have purchased approximately 513,000 <strong>Bitcoin</strong> at an average price of $56,036.</p>
<p><img loading="lazy" decoding="async" loading="lazy" class="wp-image-320653 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/02/btc-isi-coin-turk-com-.jpg" alt="" width="2354" height="1392"></p>
<p style="text-align: justify">However, if Bitcoin fails to maintain the $56,000 level, there could be a significant risk of liquidation. Coinglass’s Bitcoin liquidation heat map indicates that approximately $300 million worth of long positions could be at risk of liquidation if Bitcoin drops to $55,900.</p>
<h2 style="text-align: justify" id="bitcoin-still-below-all-time-high-record">Bitcoin Still Below All-Time High Record</h2>
<p style="text-align: justify"><strong>Bitcoin</strong> has shown significant resilience over the past year, adding $800 billion to its market value. Starting with an increase of approximately $320 billion in market value since January 1, 2023, Bitcoin has now reached a market cap of $1.13 trillion, solidifying its position as the world’s tenth-largest asset.</p>
<p style="text-align: justify">Nevertheless, Bitcoin is still below its all-time high and has a value less than 20% of its peak in November 2021. Investors remain optimistic about the future of Bitcoin, especially considering factors such as Exchange-Traded Funds (ETFs) and the upcoming block reward halving.</p>
<p style="text-align: justify">In the past, such events have led to significant increases in the price of the cryptocurrency Bitcoin and have fueled expectations for a new record in the near future. As a result, despite the pressure on Bitcoin’s price and potential volatility, the cryptocurrency continues its recovery process and remains under close watch by investors.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/bitcoin-shows-signs-of-recovery-as-it-surpasses-59000/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin Shows Signs of Recovery as It Surpasses $59,000</a></h5>

Bitcoin Shows Signs of Recovery as It Surpasses $59,000

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