Bitcoin Recovers $61,000 Level Following Dip
CryptoNewsTerminal Staff09 Aug, 2024
Bitcoin Recovers $61,000 Level Following Dip
Bitcoin (BTC) has recovered to the $61,000 level after a brief dip below that mark. According to CoinMarketCap, BTC is currently trading at $61,025.84, up by 1.14% in the last 24 hours. The recovery comes after BTC dipped below $60,000 earlier this week, reaching a low of $59,185.50 on Tuesday. The dip was likely caused by a combination of factors, including profit-taking by early investors and concerns about the regulatory environment for cryptocurrencies. However, the recovery suggests that buyers are still interested in BTC at these levels. The market is likely to remain volatile in the short term, but the long-term outlook for BTC remains positive.
