Bitcoin Holds Above $37,000 Amidst Thanksgiving Holiday Trade

Cryptocurrency values experienced a modest decline on Thursday, attributed to lower trading volumes in Bitcoin and Ether during the Thanksgiving holiday. Meanwhile, some altcoins demonstrated upward momentum even as the major cryptocurrencies saw a dip in their prices. After surpassing the $37,000 threshold earlier in the week and testing the $38,000 resistance multiple times, Bitcoin (BTC) saw a retracement of short-term profits on Thursday, as traders opted to secure gains ahead of the Thanksgiving holiday.

Notably, Crypto Myths pointed out that a significant portion of selling pressure on leading cryptocurrencies stems from short-term holders liquidating their BTC positions back into exchanges after breaching the $37,000 mark.

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