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Analysts still 'bullish on April’ despite Bitcoin price drop to $54K

Published 03/23/2021, 09:05 PM
Updated 03/23/2021, 10:40 PM
Analysts still 'bullish on April’ despite Bitcoin price drop to $54K
BTC/USD
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BTC/USDT
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BTC/USD
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On March 23 bears managed to push the price of Bitcoin (BTC) below the $54,000 support level as various on-chain data suggests that whale wallets have begun slowing down purchases and are transferring the risk to retail investors.

Data from Cointelegraph Markets and TradingView shows that the downtrend that began on March 22 and continued into Tuesday s the price retested the $54,000 support level for the second time this week.

BTC/USDT 4-hour chart. Source: TradingView
BTC outflows from Coinbase Pro. Source: CryptoQuant
Large BTC wallet inflows. Source: Whalemap
Bitcoin transactions from “Pablo” wallet. Source: Jarvis Labs
BTC/USD perpetual swap contract. Source: Jarvis Labs
CRV/USDT vs. ANKR/USDT vs. STORJ/USDT 1-day chart. Source: TradingView

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