RATE Group | Bitcoin Price Turns Bullish as Traders Fight to Flip $6,400 to Support
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Bitcoin Price Turns Bullish as Traders Fight to Flip $6,400 to Support

24 Mar Bitcoin Price Turns Bullish as Traders Fight to Flip $6,400 to Support

Posted at 01:46h in Bitcoin News by

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Bitcoin (BTC) price perked up today, rallying from $5,688 to a daily high at $6,600. The digital asset defied the worst fears of analysts by holding above the $5,400 support and currently Bitcoin continues to show growing strength in the face of wilting equities markets. 

Interestingly, gold and silver prices also rallied 4.42% and 5.94% as the S&P500 and Dow closed the day with moderate losses. This could indicate that market participants who recently exited their stock positions could be looking for shelter and growth in store-of-value assets. 

Thus, crypto investors will be closely watching to see if Bitcoin’s price action separates itself from that of traditional markets. 

Crypto market daily performance. Source: Coin360

At the time of writing, bulls are defending the $6,400 resistance in order to secure a daily close above the resistance. For days now, analysts have advised that the $6,400 resistance needs to turn support and while today’s rally to $6,600 is encouraging,…

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