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Bitcoin (BTC) during the Asian session was under strong pressure from sellers.
In the spot market, they brought down the cryptocurrency below $46,000. On some trading floors, the price of bitcoin fell to $45,900.
European investors helped the coin bounce back a little, now it is trading at around $46,112. The capitalization of the leading digital currency has decreased to $876.499 billion.
Altcoins on Monday, April 4, demonstrate multidirectional movement dynamics. Ether (ETH) and Solana (SOL) fell to $3473 and $134.5 respectively.
Binance Coin (BNB), Cardano (ADA) and XRP, in contrast, gained about 3% to $446.8, $1.21 and $0.835. Dogecoin (DOGE) and Shiba Inu (SHIB) jumped 8% and 2% to $0.152 and $0.000026. The capitalization of the crypto market is just over $2.146 trillion.
Despite Bitcoin’s correction, many analysts are still optimistic.
According to Glassnode, BTC is leaving the exchanges. In March, investors withdrew about 100,000 bitcoins from the trading floors. A similar situation was observed after the March 2020 reset.
It is possible that we are witnessing a radical change in trend and the transition of investors to an accumulative strategy, which should push the cryptocurrency to a new high, the Glassnode report says.