Bitcoin (BTC) Recovers to $57,000 After Market Correction
CryptoNewsTerminal Staff07 Aug, 2024
Bitcoin (BTC) Recovers to $57,000 After Market Correction
Bitcoin (BTC) has recovered to $57,000 after a recent market correction, according to data from Cryptonewsterminal. On the Binance USDT market, BTC is currently trading at $57,324.19. The recovery comes after BTC fell to a low of $53,500 on Thursday, following a broader market sell-off. However, the cryptocurrency has since rebounded, and is now trading above its 200-day moving average. The recovery in BTC is likely due to a number of factors, including increased institutional adoption, positive news from the regulatory front, and a growing belief that BTC is a safe haven asset. As of now, BTC is trading at $57,324.19, with a market capitalization of $1.07 trillion.
