{"id":136032,"date":"2023-03-31T10:50:24","date_gmt":"2023-03-31T10:50:24","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=136032"},"modified":"2023-03-31T10:50:27","modified_gmt":"2023-03-31T10:50:27","slug":"bitcoin-recoils-from-29k-after-75-surge-in-q1-2023","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/bitcoin-recoils-from-29k-after-75-surge-in-q1-2023\/","title":{"rendered":"Bitcoin (BTC) Recoils From $29k After 75% Surge in Q1 2023"},"content":{"rendered":"
Bitcoin prices on March 30 were underwhelming<\/strong>, recoiling from $29k<\/strong> and crashing below $28k.<\/strong> Still, this doesn’t mean sellers have everything under control.<\/span><\/p>\n <\/p>\n <\/p>\n From the daily chart, Q1 2023 was bullish as the coin added 75%. This trend could continue should BTC crack above recent highs<\/strong>, soaring above $29.1k.<\/strong><\/p>\n <\/p>\n Prices are back within the rising channel, but the upside momentum is fizzling, unable to shore prices above immediate resistance levels.<\/p>\n <\/p>\n However, as long as BTC is above $26.6k and the leg down is with comparatively light trading volumes, there could be more expansions in the days ahead<\/strong>.<\/p>\n <\/p>\n\n <\/p>\n Prices remain steady at spot rates, primarily because of the atmosphere in the United States and European banking sectors.<\/p>\n <\/p>\n There are worries of a contagion should a major German bank crack.<\/strong> The implosion of this bank might trigger a widespread crisis that could cast more doubt on the robustness of the global banking infrastructure.<\/p>\n <\/p>\n\nBanking Crisis, Expiry of BTC Options<\/h2>\n