Crypto/Markets
Bitcoin Surges Past $102,000 Despite Market Turbulence Fueled by War Anxieties
Following a sharp decline to $101,000, Bitcoin rebounded to over $102,000 as trading volume surged, with hedge fund manager James Lavish criticizing the panic selling driven by fears of global conflict.
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Bitcoin (BTC) experienced a volatile session recently, falling to $101,000 before bouncing back above $102,000. The sudden drop was met with heightened trading activity as market participants responded quickly to the panic.
Bitcoin price
Bitcoin traded between $100,962 and $103,970 over the past 24 hours, closing above $102,800.
Key Points:
- Bitcoin plunged by 2.9% before recovering above $102,800.
- Trading volume peaked at 17,906 BTC during the midnight rebound.
- James Lavish criticized the market reactions driven by war fears, stating that selling Bitcoin based on such concerns indicates a lack of understanding of the asset.
The trading environment remains uncertain, with market metrics suggesting a careful balance between profit-taking and accumulation. Many traders are opting for downside protection.
Technical Highlights:
- The midnight surge enabled BTC to surpass $102,800, with peaks in trading activity witnessed.
- From 5:57 to 6:00 AM, BTC’s price jumped from $102,767 to $102,912.
- Support levels are starting to form around $102,870 as price volatility diminishes.
