BTC Recovers $57,000 After Recent Dip
CryptoNewsTerminal Staff06 Aug, 2024
BTC Recovers $57,000 After Recent Dip
Bitcoin (BTC) has recovered to $57,000, according to data from crypto market monitor Cryptonewsterminal. At the time of writing, BTC is trading at $57,012 on Binance's USDT market. This recovery comes after a recent dip that saw BTC fall below $55,000. The dip was likely caused by a combination of factors, including profit-taking and concerns about the regulatory environment. However, the latest recovery suggests that buyers are still interested in BTC at these levels. This is likely due to the fact that BTC is still seen as a store of value and a hedge against inflation. If BTC can continue to hold above $57,000, it could be poised for a further rally in the coming weeks.
