BTC Dips Back Below $52,000
CryptoNewsTerminal Staff05 Aug, 2024
BTC Dips Back Below $52,000
The major cryptocurrency, Bitcoin (BTC), has dipped back below the $52,000 mark. According to Cryptonewsterminal market monitoring, BTC fell below $52,000 based on the Binance USDT market, where it is currently trading at $51,950.01. The recent price action comes after BTC failed to sustain its climb above the $52,000 resistance level, which has acted as a key psychological barrier for the cryptocurrency. The dip could be attributed to a combination of factors, including profit-taking by traders who had bought BTC at lower prices and uncertainty about the regulatory landscape surrounding cryptocurrencies.
