Bitcoin was trading between $47,000 and $48,000 for much of Thursday, breaking the $48,000 level multiple times throughout Thursday. Traders and analysts told CoinDesk they remain bullish on the overall market, as institutional investors’ interest in bitcoin is growing “at a staggering pace.”
- Bitcoin (BTC) trading around $47,174.04 as of 21:00 UTC (4 p.m. ET). Gaining 5.48% over the previous 24 hours.
- Bitcoin’s 24-hour range: $44,057.64-$48,635.84 (CoinDesk 20)
- BTC above its 10-hour and 50-hour averages on the hourly chart, a bullish signal for market technicians.
Despite bitcoin’s new historical high price earlier Thursday, the trading volume on the eight exchanges tracked by the CoinDesk 20 remains low compared with earlier this week.