Bitcoin Struggles To Hold $40k Support Level After Etf-induced Rally Fades

Bitcoin is striving to maintain stability above $40,000 after an ETF-driven surge, now at $41,743, down slightly today and significantly over the week. Investors watch closely as it nears this crucial price point. ETF enthusiasm didn't have a lasting effect, contrary to expectations. Despite current bearish trends, some analysts remain hopeful about the April halving event's impact, historically associated with positive market sentiment. Attention shifts to the halving's potential to limit supply and increase price with constant demand. Analysts debate Bitcoin's long-term prospects, optimistic about scarcity induced by the halving, while others remain cautious due to market volatility. Holding above $40k is a key indicator of its near-term trajectory.

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