Buy $GGsBitcoin Price Analysis: BTC holds steady above $50,000 as the first ETF comes to life in North America
- Bitcoin ETF starts trading in North America, attracting a high initial volume.
- Bitcoin holds above $50,000 as bulls look forward to action beyond $60,000.
- Declines under $50,000 will seek refuge at the 50 SMA and the ascending parallel channel lower edge.
Bitcoin has this week ascended to yet another new high. The rise above $50,000 occurred amid the return of retail traders and a reduced exchange reserve supply. At the time of writing, BTC is doddering slightly above $51,000. The need for higher support is to ensure that the flagship cryptocurrency sustains the uptrend currently eyeing $60,000.
Bitcoin ETH starts trading in North America
The first approved Bitcoin exchange-fund (ETF) had a spectacular start in North America. Traders are reported to have exchanged more than $165 million in shares. The new trading product was named the Purpose Bitcoin ETH with a ticker BTCC and stood out for allowing investors to buy directly into “physical/digital Bitcoin.”
The ETF product is being issued by Purpose Investment Inc. Analysts believe that this Bitcoin ETF will trade at a relatively lower premium than the many Bitcoin Trusts in the United States.
Bitcoin hunts for support above $50,000
In the meantime, Bitcoin is trading below the ascending channel’s middle boundary as bulls fight to secure higher support. BTC must reclaim this lost ground to continue with gains toward $60,000. It is essential to anticipate resistance at the recent all-time high of around $52,974
BTC/USD 4-hour chart
If Bitcoin drops under $50,000, the 50 Simple Moving Average (SMA) is in line to provide support. Simultaneously, the channel’s lower edge will barricade the downside to ensure that toward $40,000 is limited. Note that the 100 SMA will prevent BTC from correcting sharply in case of massive declines.
Bitcoin intraday levels
Spot rate: $51,287
Relative change: -315
Percentage change: -0.6
Trend: Bearish
Volatility: High
Play 10,000+ Casino Games at BC Game with Ease
- Instant Deposits And Withdrawals
- Crypto Casino And Sports Betting
- Exclusive Bonuses And Rewards
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Why XRP Price Rising Today? (2 March)
- Breaking: Bitcoin Price Rises to $70k as Gold Crashes Amid U.S.-Iran Conflict
- Bitcoin News: Anthony Pompliano’s ProCap Buys 450 BTC, Gold Bug Peter Schiff Reacts
- Fed Rate Cuts More Likely If U.S.-Iran Conflict Extends, Arthur Hayes Predicts
- Breaking: Ethereum Treasury BitMine Adds 50,928 ETH as Tom Lee Predicts March Bottom For Crypto Prices
- Top 5 Historical Reasons Dogecoin Price Is Not Rising
- Pi Coin Price Prediction for March 2026 Amid Network Upgrade, KYC Boost, Rewards Distribution
- Gold Price Nears ATH; Silver Eyes $100 Breakout on Us- Iran War
- Bitcoin And XRP Price As US Kills Iran Supreme Leader- Is A Crypto Crash Ahead?
- Gold Price Prediction 2026: Analysts Expect Gold to Reach $6,300 This Year
- Circle (CRCL) Stock Price Prediction as Today is the CLARITY Act Deadline
