Bitcoin (BTC), the world’s largest cryptocurrency by market capitalization, has experienced a volatile market over the past few days, with its price fluctuating between highs and lows. However, BTC has recently bounced back from a major trend line at $27,000 and is currently trading at $29,600, representing a profit of over 8% in the last 24 hours.
This latest surge in BTC’s price comes after the collapse of a major US bank, First Republic Bank. The news of this collapse may have contributed to the uptick in BTC’s price, as investors seek alternative investment options after the bank’s failure.
Another Bank Failure Tied To BTC’s Price Surge
Theto the trader and analyst, who goes by the pseudonym “CJ,” has identified what they believe to be the current parameters for the market. According to CJ, if Bitcoin’s price closes above 30k and the US dollar index (DXY) breaks to a range of 97-100, the market will likely reach the 33k liquidity level. However, if Bitcoin’s price
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