Bitcoin to Score ‘Golden Cross’ After 30% Price Surge in Two Weeks
The forthcoming price pattern would signal a strengthening of bullish momentum.
The forthcoming price pattern would signal a strengthening of bullish momentum.
Bitcoin’s bullish momentum could prove a harbinger of an altcoin rally, one analyst noted.
BTC hasn’t seen these lofty levels since May 2022, when the cryptocurrency industry was just starting to get pummeled by scandals.
The crypto’s year-to-date high of about $31,800 is within sight.
Interest rate-sensitive assets, such as Gold, are seeing bullish momentum in a positive sign for bitcoin, one observer said.
One line of thought envisions a major rally, while another suggests approval has been fully baked into prices.
Several traders experienced ‘slippage’ as liquidity declined across major exchanges.
After failing again at $28,000 resistance over the weekend, bitcoin has retreated to its weakest level since late September.
The continued accumulation shows tightening supply and a widespread reluctance to transact, according to Glassnode.
Meanwhile, bitcoin’s dominance continues to climb.