Bitcoin sank to an intraday low of $39,714.69 on Friday, following a late surge above Wednesday’s critical resistance level of $41,500. BTC was down as traders braced themselves for the lengthy Easter weekend. Bitcoin – the world’s most sought-after digital asset – has fallen about $10,000 from a two-week high of $48,220, its highest level in over four months. However, following weeks of retreats, it looks as though market analysts have identified a stable floor at $39,300, with bulls now attempting to drive prices higher once more. Related Article | Bitcoin Price Plummets Below $40,000 As Crypto Market Tallies $440 Million In Liquidations Bitcoin Feeling The Pressure Concerns about macroeconomic and geopolitical concerns have lingered, keeping some investors away. Russian President Vladimir Putin stated during a news conference on Thursday that peace talks with Ukraine have reached a stalemate. Putin further vowed that Russia’s “military operation” will continue indefinitely. On a technical level, Bitcoin’s 200-day moving average significantly stymied the recent bull run, resulting in a large price fall. Bears currently control the market, and the price is rapidly declining, resulting in a break below the 50-day and 100-day moving averages. The $37K and $34K demand zones represent the next levels of Bitcoin support. If the price holds the short-term significant support leve...
