Bitcoin Rebounds As $150K Target For 2024 Comes In View
Bitcoin (BTC) prices have risen due to buying demand and a reset in funding rates for perpetuals, causing a market-wide sell-off and over $1 billion in liquidations.
The cryptocurrency dropped to as low as $60,800 but neared $67,000 in Asian morning hours, indicating resilience.
The selling pressure is likely driven by profit-taking at historical highs and miners offloading some of their holdings. Inflows in spot bitcoin ETFs remain strong, with BlackRock amassing over $760 million on Tuesday.
Market analysts remain optimistic about lofty price targets for bitcoin as April’s anticipated halving event approaches.
(With inputs from Shikha Singh)
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