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Bitcoin struggles for weekly close above $42,000 as LFG buys 4,130 more BTC

Bitcoin (BTC) braced for its lowest weekly close of the month on April 10 after a week of disappointing losses.

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BTC/USD 1 Hour Candlestick Chart (Bitstamp). Source: TradingView

Trader: BTC ‘gives people a second chance’

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD circling $42,700 on Sunday, with just hours to go until the close of the weekly candle.

The pair had fallen into the end of trading on Wall Street on Friday, while the weekend provided some jittery calm as the $42,000 support remained intact.

Popular trader and analyst Rekt Capital still had reason for optimism despite losing nearly 10% over the past seven days.

rect capital highlighted three key moving averages currently tested as support, noting that historically a bounce off them preceded “strong bullish momentum”.

“Technically anything above ~$38k is a macro higher low for BTC,” he had called Saturday.

Macro pressures had been the backdrop to gloomy sentiment throughout the week, Cointelegraph reported, and concerns about US dollar strength lingered on the day.

“The moment the DXY peaks (which could be soon), the next bull run will begin. And this one will be an epic one,” said Cointelegraph contributor Michaël van de Poppe forecastwho also take a more hopeful perspective.

In what became a constant source of optimism, blockchain protocol Terra continued its BTC purchases on Sunday, with associated nonprofit organization Luna Foundation Guard (LFG) adding 4,130 BTC to its wallet.

According to on-chain monitoring resource BitInfoCharts, the given wallet was the 19th largest in existence with a balance of 39,897.98 BTC ($1.7 billion).

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LFG bitcoin wallet data summary (screenshot). Source: BitInfoCharts

Dogecoin is cleaning up among the big altcoins

Altcoins were similarly flat on the day, with the top ten cryptocurrencies by market cap moving no more than 1% up or down.

Related: Monero Braves Crypto Market Crash With 10% XMR Price Rally – What Next?

Compared to the same time last week, it was Terra’s LUNA and Solana (SOL) that vied for the worst performance, both down around 18%.

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DOGE/USD 1 hour candlestick chart (Binance). Source: TradingView

However, just outside the top ten, Dogecoin (DOGE) once again outperformed the rest, gaining 8.3% in 24 hours.

DOGE/USD hit $0.158, marking its highest since April 6 on continued publicity from Tesla CEO Elon Musk. Musk’s propositions over the weekend included Twitter, in which he bought shares en masse last week, accepting payments in DOGE.

The views and opinions expressed herein are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should do your own research when making a decision.