bitcoin (BTC) set for its lowest weekly close of the month so far on April 10 after a week of disappointing losses.
Trader: BTC "giving people a second chance"
Data of Markets Cointelegraph Pro Y TradingView showed BTC/USD hovering around $42,700 on Sunday with a matter of hours to go until the end of the weekly candle.
The pair had fallen at the end of Wall Street trading on Friday, while the weekend provided some nervous calm as support at $42,000 remained intact.
For popular trader and analyst Rekt Capital, there was still cause for optimism despite the last seven days seeing losses of almost 10%.
East #BTC pullback is a second chance for many people
If you promised yourself that you will buy $BTC when it goes down
And he promised he wouldn't miss the next uptrend
do yourself a favor
And take your own advice#crypto #bitcoin
โ RektCapital (@rektcapital) April 10, 2022
Featured Rekt Capital three key moving averages it is currently being tested as support, noting that historically, bouncing off them had preceded "strong bullish momentum".
โTechnically speaking, anything above ~$38,000 is a Higher Low macro for BTC,โ he said. saying Saturday.
Macro pressure had formed the backdrop for the gloomy mood throughout the week, as Cointelegraph reportedand concerns about the strength of the US dollar continued throughout the day.
โThe moment DXY is broken (which could be soon), the next bull run will start. And that one will be epic,โ Cointelegraph contributor Michaรซl van de Poppe. forecastalso adopting a more hopeful perspective.
what was becoming a perennial source Out of optimism, Blockchain protocol Terra continued its BTC purchases on Sunday, with partner non-profit organization Luna Foundation Guard (LFG) adding 4,130 BTC to its wallet.
According to the chain monitoring resource BitInfoChartsthe given wallet was the 19th largest in existence with a balance of 39,897.98 BTC ($1.7 billion).
Dogecoin cleans up among major altcoins
Altcoins were similarly flat on the day, with the top ten cryptocurrencies by market cap moving no more than 1% up or down.
Related: Monero Defies Crypto Market Crash With 10% XMR Price Rally โ What's Next?
Compared to the same time last week, it was Terra's time. MOON and Solana (SUN) competing for worst performerboth nursing losses around 18%.
Immediately outside the top ten, however, Dogecoin (DOGE) outperformed the rest once again, gaining 8.3% in 24 hours.
Maybe even an option to pay in Doge?
โ Elon Musk (@elonmusk) April 10, 2022
DOGE/USD hit $0.158, marking its highest level since April 6 thanks to continued hype from Tesla CEO Elon Musk. Among Musk's suggestions over the weekend was Twitter, actions of which he bought a lot last week, accepting payments in DOGE.
The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should do your own research when making a decision.
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