Bitcoin (BTC) corrected from the peak above $45,000 on March 3 as traders’ optimism about continued gains remained in the lead.
BTC/USD hourly candlestick chart (bit stamp). Source: Trading View
“Withdrawal of liquidity” to 43 thousand dollars.
Data from Cointelegraph Markets Pro and TradingView showed that BTC/USD cards fell below $43,000 on Thursday.
The appeal was predictable, and it was a multi-day trend that saw the couple win $10,000 in one week.
Cointelegraph contributor Mikael van de Poppe summed up in a Twitter update: “Bitcoin’s short-lived correction came after it regained liquidity once again.”
“I think we will see another bounce to the tops because the correction is not as fast as usual.”
Attention was drawn to the annual opening of just over $46,000, as well as the $48,000 order book resistance.
Meanwhile, the build-up continued, with fewer investors in the position as active buyers at the current level.
The analysis source Ecoinometrics commented along with a graph showing this week’s buying habits:
A graph of the accumulation of bitcoin investors. Source: Ecoinometrics / Twitter
Altcoins maintain higher volatility
Despite the overall bullish momentum this week, none of the top 10 cryptocurrencies by market cap were in the red on the daily time frame at the time of writing.
Related: $45,000 Bitcoin Looks Cheap Compared To Gold’s Market Cap
While the BTC/USD pair is down about 1.8%, the big altcoins are the worst performing, led by Solana (SOL) and Cardano (ADA), which are down above 5%.
Ether (ETH), the largest altcoin by market capitalization, lost 3.5% to jump back below the $3,000 mark, which has yet to establish itself as a meaningful support.
“The markets are relatively quiet. Today, people don’t care about crypto. Activity on social media is low across all accounts,” van de Poppe continued.
“Ethereum gas fees are very low. There are moments like this that you really need to be aware of, because they present opportunities.”