Cryptocurrency traders were eagerly awaiting to see whether Bitcoin (BTC) could break past the current $27,000 range to potentially reach greater heights. After a period of correction, data from Cointelegraph Markets Pro and TradingBox showed that BTC/USD had broken past the range and fallen to $27,045. Many investors had their eyes on the $26,500 mark, which represented an important support level. Should it fail, there were some speculations that Bitcoin would reach $25,000. The crypto community, however, remained optimistic as they believe that February's price action could be repeated.

In the latest edition of its newsletter, analytics firm Glassnode noted that most investors were reluctant to reduce their exposure despite Bitcoin's losses. Instead, the majority of holders seemed keen on waiting to recuperate their investments. What's more, the firm discovered that since the second week of April the aggregate value of profits realized were literally equal to the 2019 rally when Bitcoin hit the $14,000 mark. Although it could be considered minimal, there is no doubt that attaining such profits is a huge success.

In conclusion, traders at the moment remain firmly split between profiting from Bitcoin's price surge and taking a more conservative approach. With the key support line of $26,500 still intact, the possibility of Bitcoin reaching its all time high yet again is a definite reality.



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