Bitcoin (BTC) has started the week trading below $30,000 as analysts’ predictions of a short-term support retest come true. The latest gains have evaporated, but it is not clear whether they will return. Catalysts are likely to come elsewhere as the BTC price action decides on a key support zone. The week prior offered the opportunity to reinvestigate altcoins as Bitcoin cooled its upside, but now attention will focus on whether those altcoins can hold at their own higher levels. Under the hood, it appears to be business as usual for Bitcoin, with network fundamentals already at or near all-time highs, showing no definitive signs of a comedown this week. The temptation to sell at 10-month highs must be clear, with the percentage of the overall BTC supply now in profit at an impressive 75%.
BTC price heading under $30K? 5 things to know in Bitcoin this week
