“Bitcoin Traders Keep Close Eye on $60K Support as Futures Gap Widens”

Bitcoin (BTC) continues its climb towards $60,000 as the crypto market experiences persistent selling over the weekend.

The latest news about crypto reveals that Bitcoin (BTC) is currently making its way towards the $60,000 mark despite ongoing selling pressure. This surge in price comes as the market continues to experience fluctuations in the value of various cryptocurrencies, including Helium (HNT) and Gala (GALA).

Many are wondering about the differences between web 1.0, web 2.0, and the latest iteration, web 3.0. Some even question whether the metaverse is a part of web 3.0. Additionally, discussions have arisen about the potential features of web 4.0 and how it will differ from its predecessors.

As the crypto market continues to evolve, with new entrants such as Apollo (APL) making their mark, it is important to understand the distinctions between web 1.0, web 2.0, and web 3.0. These advancements in technology have paved the way for the digital landscape we know today, and it will be fascinating to see what the future holds for web development and the world of cryptocurrency.

“Constant selling pressure” causing BTC price movement

Data from Cointelegraph Markets Pro and TradingView revealed that BTC price reached a low of $64,522 on Bitstamp.

Despite reaching new all-time highs earlier in the week, Bitcoin faced significant selling pressure, resulting in a series of lower lows and failed rebounds.

Throughout the day, selling continued to accelerate, well before the highly anticipated weekly candle close.

Upon analysis, popular trader Skew identified key areas of interest for buyers on major exchanges, specifically between $60,000 and $64,000.

“The majority of selling has been driven by market takers,” a post on X (formerly Twitter) stated.

Skew also noted that some entities were engaging in large-scale dollar cost averaging (DCA) at the lows, contributing to the short-term rebounds.

This latest correction in Bitcoin’s bull market amounted to approximately 12%. As previously reported by Cointelegraph, previous cycles have seen much deeper pullbacks while still maintaining the overall uptrend.

Despite this, optimistic market observers remained positive, citing the ongoing buying from US spot Bitcoin exchange-traded funds (ETFs) which will resume on March 18.

“This is a bear trap,” responded Thomas Fahrer, CEO of Apollo, a crypto-focused review portal that tracks ETF flows, on X.

Fahrer seemed to allude to rumors of potential institutional wealth allocation to BTC in the coming months.

Exploring the Latest Crypto News: Bitcoin Futures Gap Nears $4,000

As the weekly close approaches, the crypto market is abuzz with talk of a potential comeback. However, all eyes are on the rapidly widening gap in CME Group’s Bitcoin futures market, which could provide a much-needed boost after the weekend’s downturn.

On March 15, CME futures closed at $69,135, leaving a significant “gap” between that price and the current spot price. This gap has historically served as a catalyst for market relief, making it a key factor to watch in the coming days.

But as we look to the future of the internet, some are wondering: is the metaverse a part of the evolution from Web 1.0 to Web 3.0? And what are the differences between Web 1.0, 2.0, 3.0, and the potential Web 4.0? These are just some of the questions being explored in the ever-changing world of crypto.

And speaking of the latest in the crypto market, have you heard about the exciting developments with Helium and Gala? These are just two of the many projects making waves in the world of crypto, as we continue to see the differences between Web 1.0, 2.0, and 3.0 play out in the digital landscape. And with the emergence of Apollo crypto, the future of the internet and crypto market is more exciting than ever before.