Market Wrap: Bitcoin Stuck Below $50K, and Blockchain Data May Show Why – CoinDesk – CoinDesk

Market Wrap: Bitcoin Stuck Below $50K, and Blockchain Data May Show Why – CoinDesk – CoinDesk

Bitcoin ended the first week of March with little fanfare as the market reset after the prior week’s 21% plunge. There are more signs the global economic recovery might come faster than previously expected, and traders are speculating on what that might mean for the largest cryptocurrency.

  • Bitcoin (BTC) trading around $49,196.78 as of 21:00 UTC (4 p.m. ET). Climbing 1.93% over the previous 24 hours.
  • Bitcoin’s 24-hour range: $46,393.39-$49,462.13 (CoinDesk 20)
  • BTC trades above its 10-hour and 50-hour averages on the hourly chart, a bullish signal for market technicians.

Bitcoin trading on Coinbase
Source: TradingView