Bitcoin (BTC) is trading above $40,000, with bills attempting to turn the level into support. The sellers benefit from the rising US dollar index (DXY), which is normally adversely connected to Bitcoin.

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It’s not all doom and gloom, though, because Bitcoin bulls appear to be drawing cues from the Nasdaq (NDX), which has been hanging near the positive territory.

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Despite the fact that riskier assets have been on the receiving end over the past several days, Bitcoin hodlers are dismissing the short-term weakness and focused on the long-term optimistic expectations.

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Bitcoin dipped below the immediate support at $38,536 on April 2 but the bears could not build upon their advantage. The long tail on the day’s candlestick suggests strong buying near the support line of the ascending channel.

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The buyers will now attempt to push the price above the 20-day exponential moving average (EMA) ($40,974). If they manage to do that, the BTC/USDT pair could rise to $43,000.

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Bitcoin fear and greed index on Tuesday, April 26, 2022, went from the extreme fear level of 23 to the fear level of 27 as per the alternative. me. The Fear and Greed index is a technique for assessing investors’ emotions toward the market.   

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Bitcoin is currently trading at $40,584.34, up 5.48%. In the last 24 hours, the highest it touched was $40,648.04 and the lowest was $38,338.38. Bitcoin has a current market cap of $772,091,213,446. It has a circulating supply of 19,022,543.00 BTC coins and a maximum supply of 21,000,000 coins.

Dogecoin surges over 20%, Bitcoin up 3% as Elon Musk acquires Twitter

Dogecoin, the meme cryptocurrency was trading over 20% up at $0.1677 on Tuesday, according to statistics from CoinMarketCap, after Elon Musk’s Twitter takeover was made public. Elon Musk has paid $44 billion for Twitter. The agreement comes about a month after the Tesla and SpaceX chief made public his almost 9% stake in Twitter, making him the microblogging site’s single largest individual shareholder. Bitcoin was trading 3.24% higher from 24 hours ago to around $40,525.73. Ethereum was trading at around $3,004.98, up 5.11%, according to Coinmarketcap data. Earlier on Monday, it was reported that Musk had managed to put together a $46.5 billion funding package to acquire Twitter. Supporters of Dogecoin are hopeful that if Musk takes over the social media platform, he would boost usage of the Shiba Inu-themed cryptocurrency.