Cryptocurrency values experienced a modest decline on Thursday, attributed to lower trading volumes in Bitcoin and Ether during the Thanksgiving holiday. Meanwhile, some altcoins demonstrated upward momentum even as the major cryptocurrencies saw a dip in their prices. After surpassing the $37,000 threshold earlier in the week and testing the $38,000 resistance multiple times, Bitcoin (BTC) saw a retracement of short-term profits on Thursday, as traders opted to secure gains ahead of the Thanksgiving holiday.
Notably, Crypto Myths pointed out that a significant portion of selling pressure on leading cryptocurrencies stems from short-term holders liquidating their BTC positions back into exchanges after breaching the $37,000 mark.
Notably, Crypto Myths pointed out that a significant portion of selling pressure on leading cryptocurrencies stems from short-term holders liquidating their BTC positions back into exchanges after breaching the $37,000 mark.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.