Buyers reacted to short-term oversold indications, pushing Bitcoin (BTC) back above $39,000 on Tuesday. Within its two-month range of $37,500 support and $47,000 resistance, the cryptocurrency could see more price fluctuations.

Also Read| Gold, silver and other metal prices on Monday, April 18, 2022

BTC has dipped over 3% in the last 24 hours and is down 7% in the last week. For the time being, technical indicators suggest that the retreat will settle in the next few days.

On the daily chart, the relative strength index (RSI) is reaching oversold levels, indicating that buyers may continue aggressive moving into the Asian trading day. 

Also Read| Infosys share falls nearly 9% after reporting 2.1% decline in Q4 net profit

Furthermore, positive momentum indications on the weekly chart suggest that this month’s pullbacks will be brief.

Bitcoin fear and greed index on Monday, April 18, 2022, went from the fear level of 28 to the extreme fear level of 24 as per the alternative. me. The Fear and Greed index is a technique for assessing investors’ emotions toward the market.       

Also Read| HDFC Bank share tanks over 3% after reporting Q4 results

Bitcoin is currently trading at $39,028.04, down 3.26%. In the last 24 hours, the highest it touched was $40,570.73 and the lowest was $38,696.19. Bitcoin has a current market cap of $741,985,300,499. It has a circulating supply of 19,014,950.00 BTC coins and a maximum supply of 21,000,000 coins.

Also Read| China’s Q1 GDP grows 4.8% year on year, beating expectations

Jack Dorsey and Robinhood CEO Scuffle on Twitter Over BTC Fees

Block CEO and Twitter co-founder Jack Dorsey had a brief back-and-forth with Robinhood CEO Vladimir Tenev on Friday.  Tenev tweeted on Thursday: “Can #Doge truly be the future currency of the Internet and the people? As we added the ability to send/receive DOGE on Robinhood, I’ve been thinking about what that would take.” Over several follow-up tweets, Tenev riffed on improvements Dogecoin would need to become the internet’s top currency, adding that the blockchain, which currently handles around 40 transactions per second, would need to “significantly outperform” Visa’s 65,000 transactions per second. Tenev concluded: “Dogecoin core devs, I would focus on one thing: coming up with a good process for increasing the block size limit over time.  Let me know what you all think!” Dorsey replied to Tenev’s final tweet with an acerbic “u thirsty?” Tenev parried with “u mad?” before Dorsey exited the thread with “Nah I’m good I don’t use Robinhood.”

Also Read| Oil prices surge on supply worries as Ukraine crisis worsens

Joe Biden nominates former Ripple advisor as Fed’s vice chairman

U.S President Joe Biden named former crypto industry advisor Michael Barr as his latest pick for a Federal Reserve post that’s arguably the most powerful financial regulator job in the U.S. Michael Barr, who is now the public policy school dean at the University of Michigan Law School was a senior official in former President Barack Obama’s Treasury and occupied a key role in the government’s rescue of the financial system from the ruins of the 2008 financial crisis. But the most important aspect of his background in the digital-assets industry could potentially be his tenure on the board of advisers at Ripple, giving him an insider’s knowledge of crypto. The White House announced Barr’s selection as the next nominee for the Fed’s vice chairman for supervision on Friday, praising him as a person who “spent his career protecting consumers.” But he’ll face a Senate confirmation minefield that already eliminated Biden’s previous choice, Sarah Bloom Raskin.