Bitcoin Fights For Weekly Close Above $42,000 As LFG Buys Another 4,130 BTC

bitcoin ( BTC ) braced for its lowest weekly close of the month so far on April 10 after a week of disappointing losses. BTC/USD 1 hour ...


bitcoin (BTC) braced for its lowest weekly close of the month so far on April 10 after a week of disappointing losses.

BTC/USD 1 hour candle chart (Bitstamp). Source: Trading View

Trader: BTC “gives people a second chance”

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hovering around $42,700 on Sunday with hours to go before the weekly candle closes.

The pair had fallen by the end of Wall Street trading on Friday, while the weekend brought nervous calm as support at $42,000 remained intact.

For popular trader and analyst Rekt Capital, there was still reason to be optimistic despite the last seven days to see losses of nearly 10%.

Rekt Capital highlighted three key moving averages currently being tested as support, noting that historically their bounce preceded “strong bullish momentum.”

“Technically speaking, anything over ~$38,000 is a Macro Higher Low for BTC,” he had said. mentioned Saturday.

Macro pressure had formed the backdrop for the somber mood throughout the week, as Cointelegraph reportedand concerns about the strength of the US dollar remained that day.

“The moment DXY is reached (which could be soon), the next bull run will begin. And this one will be epic,” said Cointelegraph contributor MichaĆ«l van de Poppe. providealso adopting a more optimistic perspective.

In what became a perennial source Of optimism, the Terra Blockchain protocol continued its BTC purchases on Sunday, with the nonprofit Luna Foundation Guard (LFG) adding 4,130 BTC to its wallet.

According to On-Chain Watch Resource BitInfoChartsthe given wallet was the 19th largest in existence with a balance of 39,897.98 BTC ($1.7 billion).

LFG Bitcoin wallet data summary (screenshot). Source: BitInfoCharts

Dogecoin cleans up among major altcoins

Altcoins were also flat on the day, with the top ten cryptocurrencies by market capitalization not advancing more than 1% up or down.

Related: Monero defies crypto market crash with 10% XMR price hike – what’s next?

Compared to the same time last week, it was Terra LUNA and Solana (FLOOR) in the running for worst performerthe two nursing losses of about 18%.

DOGE/USD 1 hour candle chart (Binance). Source: Trading View

Immediately outside the top ten, however, Dogecoin (DOGE) again outperformed the others, gaining 8.3% in 24 hours.

DOGE/USD hit $0.158, marking its highest level since April 6 thanks to continued publicity from Tesla CEO Elon Musk. Among Musk’s suggestions over the weekend was Twitter, which he shared bought en masse last week accepting payments in DOGE.

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