Bitcoin Update for February 11 2024 Following a Surge BTC Pulls Back but Ends the Week Up 4

The price of
Bitcoin
Today, 02/11/2024, a downward trend that began on Friday is continuing. BTC started the month with a price drop of over 3%, followed by the broader cryptocurrency market after an epic rally that brought it close to its all-time high. This week, the largest asset retested the $73 price zone, approaching its ATH at $73.737,94.
However, after the
rally
BTC has seen a significant drop and is on track to close the week with gains of 4%. In a bearish move, Bitcoin has retreated again to the $69 zone, where it is currently trading. In its last high recorded yesterday, November 1, the asset reached the $71.500 level, but it failed to sustain and retreated to the current zone.
At the time of publication, the price of Bitcoin was quoted at US$ 69.629,77 with a decrease of 0.7% in the last 24 hours, equivalent to approximately R$ 408.987,61 BRL and € 64.048,67 EUR. In its weekly development, the asset showed an appreciation of 4.0% in the last seven days.
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Source: TradingView
Analyzing recent movements on the Bitcoin network, market expert Ali Martinez highlighted that the largest cryptocurrency is registering movements as planned, suggesting that Bitcoin could increase its price to $78.000.
“So far, Bitcoin is going according to plan! After rising to $72.000, $BTC is now testing the $69.000 support zone. If this level holds, BTC could rise to $78.000!”
wrote
.
Similarly, following Bitcoin’s recent development, most major cryptocurrencies are witnessing notable price recoveries in the last 24 hours. Ethereum is trading at $2.500,50 with a 0.5% drop in its price. XRP is trading at $0,511 with a 1.4% drop. Cardano is currently trading at $0,3577 after rising 3% in the last day. Solana is down 0.9% and is trading at $166,12.
Disclaimer:
The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.
Tags:
Bitcoin (BTC)
Cryptos