Bitcoin (BTC) Recovers Back to $28,000, Driven by These Two Factors: Details

Bitcoin (BTC) regains $28,000, here are two things contributing to rise BTC $BTC

has reclaimed the $28,000 mark after reaching an almost four-week low, setting lows of $26,985 on April 24. After remaining below $28,000 for five days, Bitcoin took the rest of the market on an unexpected upward trip.

At the time of writing, Bitcoin was up 5% in the last 24 hours at $28,701. If Bitcoin sustains its recent climb, the lead asset might be on track to mark its second day of gains since its rebound from April 24 lows. Some narratives might have helped fuel Bitcoin's rebound, although the exact cause of the increase remains unknown. The rebound is supported first by technical factors. Bitcoin tested a closely watched level — its daily MA 50 — which some analysts suggest remains a decisive level for Bitcoin's price growth.

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