3 reasons Bitcoin recovered by 8% overnight — Key levels to watch next

Cointelegraph

Published Mar 01, 2021 06:00AM ET

Updated Mar 01, 2021 08:20PM ET

The price of Bitcoin (BTC) recovered by more than 8% overnight on March 1 following a steep drop during the weekend.

There are three reasons the price of Bitcoin recovered swiftly over the past 24 hours. They include the recovering global stock market, rising Coinbase premium and a typical weekend reversal.

BTC/USD 1-hour candle chart (Bitstamp). Source: Tradingview
Bitcoin price fluctuation with the S&P 500. Source: Santiment
Coinbase premium. Source: CryptoQuant
Whale clusters. Source: Whalemap

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