The bottom of the crypto money market, Bitcoin continues its horizontal course.
Bitcoin continues to maintain its support of 28 thousand 800 after the opening of the week. Although the macro data points to the rise in the crypto money market, Bitcoin is trading at 29 thousand.
Bitcoin continues its course at $ 29 thousand
Bitcoin price managed to stay above $29,000 by following a mostly sideways course on the opening day of the week. The price remained stable, unaffected by the Curve Finance DeFi exploit that took place over the weekend.
Bitcoin, the world’s largest digital asset, fell 0.5 percent to $29,200, according to CoinGecko. However, Bitcoin has been relatively stable for six weeks, fluctuating in a narrow range between about $29,000 and $31,500.
Justin d’Anethan, who serves as APAC head of business development at Keyrock, stated that Bitcoin remains stable and other highly liquid tokens are yet to be affected. Referring to the world of decentralized finance, he emphasized that there are risks that need to be evaluated together with the advantages of decentralized and self-protecting solutions.
Meanwhile, a report from Coinshares showed that long-term Bitcoin investment products accounted for 93 percent of digital asset outflows in the past six months. This trend shows that investors are making profits recently and sentiment towards Bitcoin in general is supportive.
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