Can Bitcoin hold above $ 46,000?





Bitcoin (BTC) rate on Friday, February 26, fell to its lowest level since February 11, 2021.

The coin fell to $ 46,220, cryptocurrency capitalization fell to $ 867.222 billion (-5.38%). Back on February 22, the WhaleMap team, analyzing the behavior of the whales, pointed to two support zones, $ 48,500 and $ 46,500.

Over the past four days, Bitcoin has not been able to hold on to these levels, where the big players were buying. However, while the coin is still holding above $ 46,000.

A similar situation was observed when bitcoin held above $ 29,000. Then the risks of a more significant rollback also increased, but ultimately the whales supported the cryptocurrency, which allowed it not only to maintain its position, but also to resume the offensive.

The largest altcoins today also went into the red zone. Ether (ETH) fell to $ 1.458 (-8.33%) at the time of this review. Litecoin (LTC), ChainLink (LINK) and Bitcoin Cash (BCH) fell to $ 171, $ 25 and $ 486, respectively.

But Cardano added 10% per day and is now trading at $ 1.25 (+ 10%). Cryptocurrency market capitalization fell to $ 1.4 trillion.

According to Skew, since the beginning of January, the correlation between Bitcoin and the S&P 500 has increased again.