• The crypto market has been rallying, with Bitcoin leading the charge by breaking multiple resistance levels and tapping into the $17,000 zone for the first time in a month.
• Bitcoin’s market capitalization is now above $335 billion, higher than the market cap seen on BTC late last year.
• Tuesday was when BTC made a significant move of about 1.5%, the highest daily gain since December 20, 2022.
The crypto market has been on an upward trend in recent weeks, led by Bitcoin, the largest crypto by market cap, breaking multiple resistance and climbing higher and higher. After falling below the $17,000 zone following the FTX crash and the onset of the bear market, Bitcoin stayed there for a while, but since the start of the new year, the Bitcoin market has been making positive moves. As of writing, Bitcoin is trading at $17,409, after having tapped into the $17,000 zone for the first time in almost a month.
Tuesday saw Bitcoin make a significant move of about 1.5%, the highest daily gain since December 20, 2022. This has pushed Bitcoin’s market capitalization higher than the market cap seen on the coin late last year, and is now above $335 billion. This is a good indication that the crypto market is on an upward trend and that Bitcoin is leading the charge.
Analysts are optimistic about Bitcoin’s future and are predicting that the coin will continue to rally in the coming weeks and months. This could be great news for investors, as it could mean higher returns for those who invest in Bitcoin. Additionally, the increasing price of Bitcoin has seen a lot of attention from mainstream investors, which could be beneficial for the crypto market as a whole.
For now, the crypto market is in a bullish state and Bitcoin is leading the way. It remains to be seen how much higher Bitcoin can go and how much more investors can gain from their investments. But, one thing is certain: the crypto market is on an upward trend and it looks like it will continue to climb higher.