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Bitcoin bulls return after BTC bounces at a key support level


cointelegraph.com April 08 2021 02:13, UTC
Reading time: ~1 m

A wave of selling took command of the cryptocurrency market on April 7 after Bitcoin (BTC) price dropped below $56,000.

The market-wide sell-off led to $1.4 billion in liquidations and some analysts suggested that this could be the final sweep out of overleveraged long traders before Bitcoin can make a run higher to the $70,000 level. 

The overall cryptocurrency market cap now stands at $1.90 trillion and Bitcoin’s dominance rate is 55.6%.

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