Bitcoin trades in a tight range as cautious investors keep volumes low.
$220M in Bitcoin long positions liquidated after weak U.S. jobs data.
Analysts highlight Bitcoin’s record hash rate, ensuring its top blockchain security.
Bitcoin (BTC) held steady over the weekend, trading between $54,000 and $55,000 despite a volatile market. Lower trading volumes reflected investor caution following the U.S. jobs data, which triggered over $220 million in long position liquidations on Friday.
Other major cryptocurrencies followed a similar trend, with modest gains observed across Ethereum (ETH), Solana (SOL), Cardano (ADA), Ripple (XRP), and Tron (TRX). Mid-cap tokens, however, saw more significant gains, with memecoin Neiro (NEIRO) and the BitTorrent token (BTT) jumping 25%.
Analysts Underscore Bitcoin’s Robust Network Security
While recent attention on Bitcoin’s price has largely been affected by macroeconomic factors, analysts Presto, Peter Chung, and Min Jung highlighted the importance of network security as a fundamental aspect supporting Bitcoin’s value.
They pointed out that the network hash rate of Bitcoin has hit a record high of 679 EH/s that m…
The post Bitcoin Price Stable Despite Market Fluctuations, Hash Rate Soars appeared first on Coin Edition.
