Bitcoin (BTC)entered a correction from the highs above $45,000 on March 3 and approached the $43,000 levels as traders expect a new rally.
BTC/USD briefly dropped below $43,000 on Thursday, according to data from CoinTelegraph Markets Pro and TradingView. The pair gained close to $10,000 in a short time like a week.
Cointelegraph author Michael van de Poppe “After retrieving liquidity ($43.00) there was a short-term correction in Bitcoin,” he explained in a Twitter post.
“It looks like we’re going to see another run to the heights as the correction isn’t as fast as we would normally be.”
Even though investors were still targeting above $46,000, order books had risen to as high as $48,000. Meanwhile, the accumulation continued and smaller investors continued to buy at these levels.
This week, Ecoinometrics shared a statement, “Small fish line up like there’s no tomorrow,” along with a graph showing their buying habits.
Altcoin Prices Remain Volatile
Despite the overall bullish performance this week, none of the top ten cryptocurrencies by market cap were red on daily timeframes at the time of writing.
BTC/USD is down around 1.8%, while major altcoins led by Solana (SOL) and Cardano (ADA), both fell more than 5%.
The largest altcoin by market capitalization Ethereum (ETH)It is down 3.5% to retrace below the $3,000 level, which has yet to establish itself as meaningful support.
“The markets are relatively calm,” said Van de Poppe. People are showing low interest in crypto right now. Social media engagement is low on all accounts,” he said.
“Ethereum gas fees are at a very low level. These are the times when you really need to start paying attention because it offers opportunities.”
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.