Bitcoin Price Pumps After Hitting Key Support While Green Bitcoin Presale Passes $7M

Riding bullish sentiment of its own is the Green Bitcoin (GBTC) project, which has now raised over $7 million from investors keen on its eco-friendly staking protocol.

BTC Bulls Regain Strength as $61k Price Floor Holds Firm

Bitcoin’s recovery has come after a rocky week for crypto investors.

BTC’s price had fallen over 17% from last Thursday’s all-time high around $73,750 before finally finding support in the $61,000 region yesterday.

The swift reversal off those lows wasn’t entirely surprising given BTC’s price action around the area recently.

Since late February, this key level has been tested and rejected three times, solidifying it as a crucial floor for the bull run to continue.

Bitcoin’s aggressive bounce could also mark the formation of a lower high on the daily chart, with the coin potentially carving out a new trading range in the low $60,000s.

However, the aggressiveness of the rebound is an encouraging sign for bulls.

Such a sharp upward move suggests that large players may have been waiting to accumulate BTC at these levels.

So, although spot trading volumes are still down 15% from the previous day, things are looking up for Bitcoin.

Fed Comments Reassure Investors, But ETF Outflows Linger

Bitcoin’s upswing may have been aided by positive comments from Federal Reserve Chair Jerome Powell, who suggested interest rate cuts could be appropriate later this year.

Powell’s reassuring tone seemed to resonate with crypto investors.

However, yesterday’s news wasn’t entirely bullish – spot Bitcoin ETFs saw outflows for the third consecutive day on March 20.

Data from Farside estimated a net outflow of $261 million from these ETFs, mainly due to $386 million flowing out of the Grayscale Bitcoin Trust.

While not an insignificant amount, Bitcoin has shown its resilience by shrugging off the ETF outflows and rebounding aggressively.

Some analysts view this as a sign the market is becoming less reliant on demand from institutional products to move prices higher.

Still, the consistent ETF selling pressure is likely capping upside for now.

Any rotation back into inflows for these major funds could provide a much-needed boost to Bitcoin’s momentum.

And with the halving event just one month away, investors are keeping a close eye on the impact it could have on the coin’s price.

Green Bitcoin’s $7m Presale Raise Signals High Demand for Green Staking Protocol

While Bitcoin is attempting to recapture its momentum, another crypto asset displaying serious upside potential is Green Bitcoin in its successful presale phase.

The eco-friendly token has now raised over $7 million from investors eager to participate in its gamified staking model and Proof-of- Stake consensus mechanism, designed to reduce crypto’s environmental impact.

Green Bitcoin’s presale has resonated with the growing segment of eco-conscious investors.

By using a more energy-efficient validation method, Green Bitcoin consumes just 34 Wh of energy per transaction – a fraction of what Bitcoin consumes.

But it’s not just about being green.

Green Bitcoin has paired its eco-friendly setup with a “predict-to-earn” mechanic.

GBTC holders can receive bonus tokens by accurately forecasting Bitcoin’s price movements while earning a base rate of 86% per year.

This innovative model has clearly piqued investor interest during the presale.

Early investors can buy GBTC tokens for the discounted price of $1.1062 at the time of writing, although this price will rise in three days once the next presale stage begins.

Once the hard cap has been reached, Green Bitcoin’s developers plan to seek exchange listings for GBTC – an event that Telegram group members are already looking forward to.

Given the early fundraising amount and growing community backing, Green Bitcoin looks well-positioned for a breakout year.

Visit Green Bitcoin Presale

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