In the constantly fluctuating cryptocurrency market, Bitcoin (BTC) has stolen the spotlight with a dramatic rally that’s seen its value shoot up. BTC price rallied from $66,500, all the way up to $71,200 before observing a slight correction. However, analysts feel confident that the project will retest its ATH, given the upcoming Bitcoin halving.
Bitcoin Price Corrects After Minor Rally, Faces Resistance at $70K
Bitcoin (BTC)’s positive move faced a minor correction as the price faced strong resistance at $71,000. Despite this recent move, buyers still dominate the market as the upcoming halving is expected to push the token’s price above its previous all-time high.
A major reason behind the recent correction has been sustained selling from the Grayscale Bitcoin Trust (Btc). The fund has continued to sell Bitcoins on the market, resulting in massive selling pressure. According to Data from BitMEX, GBTC’s accumulative outflows have exceeded $14.5 Billion, amounting to over 275,000 BTC.
However, analysts reported healthy buying demand in the market as the selling had a minor impact on the overall Bitcoin (BTC) trajectory. Onchain data suggests that the project will rally significantly after the incoming halving as other institutional investors like BlackRock continue to provide buying liquidity into the market.
Algorithmic Trading Platform Algotech (ALGT) Emerges as Leading DeFi Choice
Algotech is an algorithmic trading platform that allows traders to leverage AI tools and machine learning to invest in cryptocurrencies. The project has gained significant attention because of its advanced features like breakout detection, mean reversion, and high-volume arbitrage.
Algotech (ALGT) incorporates AI to sift through over 1,000 data points and offers predictive insights into potential market breakouts. The platform also features social trading, which enables traders to share their strategies and performance, promoting a positive culture in the crypto community.
ALGT Presale Crosses $3.2 Million in Record Time as Project Announces $250K Giveaway
To celebrate the historic presale, where over 80 Million ALGT tokens were sold in record time, Algotech recently announced a mega giveway of over $250,000. The amount will be awarded to 10 lucky winners that will participate in the giveaway.
Investors are jumping at the chance to participate in the giveaway because the platform is rewarding early investors with profit shares and governance rights. Additionally, tokens are running out fast at $0.06, as the price is expected to go up to $0.08 in the next round.
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Disclosure: This is a sponsored press release. Please do your research before buying any cryptocurrency or investing in any projects. Read the full disclosure here.
