Helloo hivers
Finally, crypto is going up so let's keep the hype and see the next price level for BTC.
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The next level of interest for traders is currently $46,000, as Terra continues to acquire BTC behind the scenes.
On March 25, Bitcoin (BTC) reached its highest level of the month, with traders looking for an end to months of consolidation.
Terra’s BTC stash nears $1 billion
BTC/USD touched $44,698 on Bitstamp Friday, according to data from Cointelegraph Markets Pro and TradingView.
With that, the duo was less than $1,000 away from the monthly high of $45,330.
The annual open at $46,000 was becoming increasingly important for traders.
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On the other hand, Crypto Ed argued that $46,000 may not be a winning bet based on the strength of the breach of lesser resistance levels.
“What happens usually at such an obvious resistance? BTC bursts through, fueled by a short squeeze. Those waiting for 46k to break are likely to be left behind. 3rd time is a charm,”
he commented alongside a chart.
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Terra's buy-ins for its new stablecoin, which has been a source of optimistic mood this week, have continued, with its wallet having 21,323 BTC ($947 million) at the time of writing.
The move sparked considerable interest, not least since the largest corporate BTC treasury, that of MicroStrategy, had just over 125,000 BTC. If Terra achieves its objective of backing its TerraUSD (UST) stablecoin with $10 billion in BTC, the company will eventually hold about 224,400 BTC – twice as much.
Praise be to the whales?
"However, it looks the whales had other plans, as we have witnessed a steady constant bid for Bitcoin ever since this large wall of bids formed over at Bitfinex around $37,000."
“It is also worth noting that while it could get pulled, the next major wall is currently sitting at $45,500–$46,000.”
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