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Why is Bitcoin price up today?

Published 05/29/2023, 01:41 PM
Updated 05/29/2023, 07:20 PM
BTC/USD
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BTC/USD
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Bitcoin (BTC) markets posted modest gains at the beginning of the March 29 trading session as traders sought stability above $28,000, a psychological support andresistance level.

At the time of writin BTC's price changed hands for over $28,450, its highest level in two weeks. However, short-term profit-taking sentiment among day traders pushed the price lower toward $27,850 later in the day.

BTC/USD four-price chart. Source: TradingView
DXY and BTC/USD daily correlation coefficient. Source: TradingView
BTC/USD daily price chart. Source: TradingView

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