Bitcoin
Bitcoin (BTC)
$64,040.00 -0.3863
Bitcoin price
Ethereum
Ethereum (ETH)
$3,435.00 1.12035
Ethereum price
BNB
BNB (BNB)
$572.03 0.57475
BNB price
Solana
Solana (SOL)
$159.73 2.22887
Solana price
XRP
XRP (XRP)
$0.5714100 -9.5447
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000174 -6.86304
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000117 -1.01858
Pepe price
Bonk
Bonk (BONK)
$0.0000267 -0.88616
Bonk price
Bitcoin
Bitcoin (BTC)
$64,040.00 -0.3863
Bitcoin price
Ethereum
Ethereum (ETH)
$3,435.00 1.12035
Ethereum price
BNB
BNB (BNB)
$572.03 0.57475
BNB price
Solana
Solana (SOL)
$159.73 2.22887
Solana price
XRP
XRP (XRP)
$0.5714100 -9.5447
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000174 -6.86304
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000117 -1.01858
Pepe price
Bonk
Bonk (BONK)
$0.0000267 -0.88616
Bonk price
Bitcoin
Bitcoin (BTC)
$64,040.00 -0.3863
Bitcoin price
Ethereum
Ethereum (ETH)
$3,435.00 1.12035
Ethereum price
BNB
BNB (BNB)
$572.03 0.57475
BNB price
Solana
Solana (SOL)
$159.73 2.22887
Solana price
XRP
XRP (XRP)
$0.5714100 -9.5447
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000174 -6.86304
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000117 -1.01858
Pepe price
Bonk
Bonk (BONK)
$0.0000267 -0.88616
Bonk price
Bitcoin
Bitcoin (BTC)
$64,040.00 -0.3863
Bitcoin price
Ethereum
Ethereum (ETH)
$3,435.00 1.12035
Ethereum price
BNB
BNB (BNB)
$572.03 0.57475
BNB price
Solana
Solana (SOL)
$159.73 2.22887
Solana price
XRP
XRP (XRP)
$0.5714100 -9.5447
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000174 -6.86304
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000117 -1.01858
Pepe price
Bonk
Bonk (BONK)
$0.0000267 -0.88616
Bonk price

CryptoQuant shares reasons behind Bitcoin’s $70k recovery

bitcoin-price-recovery-cryptoquant
Edited by
Markets
CryptoQuant shares reasons behind Bitcoin’s $70k recovery

The CryptoQuant platform author shared their opinion on the return of the Bitcoin price above $70,000 after several weeks of correction.

According to the expert, the price of Bitcoin (BTC) recovered after several weeks for several reasons. First, the crypto market saw a significant portion of investors’ profits for $2.7 billion, while selling pressure weakened as holders of short-term bonds ceased to realize the losses from the price correction.

https://twitter.com/cryptoquant_com/status/1777242025198223415

Another reason for recovering the first cryptocurrency is the release of several billion stablecoins USDT last week.

“New USDT has been minted, and as you can see, there is a strong correlation between the market cap of USDT and the price of Bitcoin.”

CryptoQuant experts

Another significant trend contributing to Bitcoin’s recovery is the massive influx of BTC into savings addresses, as Bitcoin reserves have reached an all-time high.

The Bitcoin price jumped to $72,000 today, while the Fear and Greed Index reached 76 points, meaning there is ‘extreme greed’ among BTC traders. Many experts agree that BTC is rising for two key reasons: the upcoming halving in April and continued interest in spot Bitcoin ETFs.

CryptoQuant shares reasons behind Bitcoin's $70k recovery - 1
Source: CoinMarketCap

The excitement is also noticeable in the influx of capital into cryptocurrency investment products. From March 30 to April 5, inflows amounted to $646 million. Since the beginning of the year, total receipts have reached a record $13.8 billion.