Bitcoin (BTC) is trying to find the bottom at around $35,000. There is an opinion among analysts that at this level, the cryptocurrency can claim to be the support of the whales.
On the night of Friday, February 25, the coin bounced to $36,100, but so far it is still trading in the red zone. Therefore, at any time, Bitcoin can retreat below $36,000 again.
The capitalization of BTC for the week fell by more than 12% to $681.56 billion. Short-term investors are aggressively dumping the cryptocurrency, which increases the pressure on this digital asset.
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However, the hodlers remain calm. On the contrary, they continue to buy bitcoins, ether, and other virtual currencies. According to the Glassnode platform, the number of addresses with a balance of at least 0.01 BTC today rose to an all-time high of 9.512 million.
Risk assets, along with cryptocurrencies, are retreating, while commodities, on the contrary, have been adding in value over the past few days.