Bitcoin breaks resistance and flirts with USD 53,000
Bitcoin breaks resistance and flirts with USD 53,000Bitcoin breaks resistance and flirts with USD 53,000BitcoinBitcoin

And again, Bitcoin is breaking resistance and flirting with the $53,000 mark. Of course, this is also due to the fact that El Salvador acquired a not small amount of BTC. Confirmed is the purchase of at least 400 Bitcoin. But also the fears of a renewed price decline of BTC disappeared.

Bitcoin Day in El Salvador

El Salvador is introducing Bitcoin as a means of payment today and has purchased another 200 BTC. In total, El Salvador now holds 400 BTC, as confirmed by the President of El Salvador, Nayib Bukele on Twitter. Even though he was heavily criticized by the citizens, he also added that he wants to buy a lot more Bitcoin. This has certainly contributed to BTC flirting with the $53,000 mark and easily breaking the resistance.

In the process, data from Cointelegraph Markets Pro as well as TradingView, among others, showed that BTC had hit new highs overnight. Bitcoin climbed as high as $52,960. In the process, BTC first tested the $51,000 level. However, this level was still below resistance. However, it was now able to eliminate the bears after all and is taking course upwards again. Thus, Bitcoin reaches its highest level in almost four months.

Market buys Miner Coins

As reported by Cointelegraph, among others, the on-chain metrics as well as the fundamentals are also relentless as the miner rally continued. This is because even the profit-taking by miners failed to dampen the moves, if at all, only in the short term.

For example, The Week On-Chain newsletter states:

This week, around 2,900 BTC were spent from miner balances, which equates to about $145 million at a BTC price of $50,000.

This means that miner positions can go down or up by as much as $5,000 in a week. So these activities are quite reasonable. Nevertheless, things are not looking bad for almost all digital currencies at the moment and some of the coins have even been able to generate several all-time highs.

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