Bitcoin (BTC) took a breather from its last rally on March 26 after expected resistance just after the year opened.

Hourly candlestick chart BTC / USD (bit stamp). Source: Trading View
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Data from Cointelegraph Markets Pro and TradingView showed that BTC / USD held around $ 44,500 on Saturday, maintaining most of the week’s progress.

Traders sounded the alarm about a possible withdrawal after a massive sale hit the main stock exchange of Bitfinex. In this case, the sales pressure won, stopping the trend of just over $ 45,000.

“I’m still waiting to see how prices trade at this year’s opening. Earlier times I targeted it, we failed, but we were very close, although this time it looks better for BTC. Almost in goal,” summed up the famous trader Bentoshi .

Meanwhile, other Twitter users have B.S. Richfield stressed the need to break the current local high of $ 45,135 after two “false positives” in lower time frames. He claimed that not being able to do it before orgasm would be bad news.

Another topic of discussion this week is the multi-billion dollar purchase of the Blockchain Terra protocol, in which the administration has added nearly 3,000 more BTC to a wallet of 24,954 BTC ($ 1.1 billion).

Media interest and hype have gradually increased, with the analysis company Messari emphasizing that “expansion in use and fundamental factors” drives the price of the Terra LUNA token while other smart contract tokens are traded lower.

But at the time of writing, LUNA / USD is in the same position as last weekend, while Bitcoin and the largest altcoin, Ether (ETH), are up more than 6% in the same period.

Fees are still a bargain
But despite all the interest in the transformation of the crypto industry, Bitcoin has remained far from the picture.

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In addition to the fact that Google Trends data continues to show calm, analyst Benjamin Cowan noted that low Bitcoin transaction fees highlight the lack of activity.

“To some extent, bitcoin transaction fees tell you what you need to know,” he said.

“It is clear that the tourists are gone for the time being. But they are coming back. They always come back. “

Source: CoinTelegraph

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