Bitcoin hits $40K, investors pump Dogecoin (DOGE) after Musk confirms Twitter purchase By Cointelegraph

Bitcoin hits $40K, investors pump Dogecoin (DOGE) after Musk confirms Twitter purchase

The cryptocurrency market fell under pressure in the early trading hours on April 25, but a brief spurt of bullish price action sparked after media headlines announced that Elon Musk had reached a deal to purchase Twitter (NYSE:) for $44 billion.

Data from Cointelegraph Markets Pro and TradingView shows that after dropping as low as $38,210 in the opening trading hours on Monday, (BTC) price staged a 5.72% rally to hit an intraday high at $40,366 as news of Twitter’s sale spread across news outlets.

BTC/USDT 1-day chart. Source: TradingView
Exchange net position change for BTC. Source: Twitter
Bitcoin realized price by address. Source: Twitter
BTC/USDT 4-hour chart. Source: TradingView