As analysts are still optimistic about BTC, Bitcoin suddenly retested the possible “shock” of $50,000


Bitcoin (Bitcoin) Keeping traders on the alert on Tuesday, because the sudden price drop triggered a retest of $50,000.

BTC/USD 1-hour candlestick chart (Bitstamp). Source: TradingView

BTC is still “good” at $49,000

Data from Cointelegraph Markets Pro with Transaction view On Tuesday, BTC/USD fell by $2,000 in two hours.

The currency pair has reached 52,960 USD-close to Four month high -Before consolidating and then going lower.

The turbulent situation marked a memorable day for Bitcoin adoption, as El Salvador became the first country in history to adopt a partial “Bitcoin standard”.

For traders, the BTC price reversal, which has cooled to $50,500 at the time of writing, may be just a technical event.

Popular social media trader Crypto Chase “gets rid of some of the late-stage bulls I expected” Comment.

“We are still confident to see 54.7K~ as long as 50K can be used as support (the fairly obvious 12HR level works here).”

As Cointelegraph Report, This week’s financing interest rate showed a bullish tendency, and the expectation of profitable short positions provided a potential opportunity for upward squeeze.

Cointelegraph writer Michaël van de Poppe agreed. He emphasized that even $49,000 is a reasonable goal, but there is still no reason to worry.

“The test is in progress!” He then Tweet.

Major altcoins erased days of gains

Altcoins are more keenly aware of the pain of Bitcoin’s retest.

related: As the price of Bitcoin rose to $52,000, these 3 altcoins rose

Ether (Ethereum) Is the altcoin with the largest market capitalization, falling 5.9% on the day to $3,715, while Cardano (Have) Fell 11.2%.

Solana (SOL) was the only winner of the day again Among the top 10 cryptocurrencies, it is impressive that they have risen by nearly 25% in 24 hours.