Market Wrap: Bitcoin Above $49K While Ether Transaction Fees Surge Again – CoinDesk – CoinDesk

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Bitcoin set a new record above $49,000 after trading between $47,000 and $48,000 for much of 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.

Bitcoin trading on Coinbase since Feb 5.
Source: TradingView

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.