Top Crypto News: Why Crypto Market is Up Today?
The post Top Crypto News: Why Crypto Market is Up Today? appeared first on Coinpedia Fintech News
The total market cap just broke out from the descending trend line in the times when Bitcoin raised above the decisive symmetrical triangle. The market cap is close to registering 3 successive bullish candles due to which the crypto space remained bullish since the early trading hours. Besides, the trading volume also soared high by more than 3%.
The market sentiments appear to have flipped considerably as major altcoins have been extremely bullish since the early trading hours. Meanwhile, XRP remained one of the top performers of the day along with Cardano which soared by more than 10% in just a short while. Now that the bullish momentum has mounted, a significant upswing may prevail for a long.
However, the bullish confirmation is yet to be flashed for the Bitcoin price which may further break out above $30,000. Till then, the BTC price is believed to hover within range highs as per a popular analyst Altcoin Sherpa.
$BTC: Even though we’re all celebrating now, #Bitcoin is still just at the range highs. Unless we see more continuation, this is probably a decent short area with clear invalidation. High time frame close above $29k and things probably rip past 30k quick. #BTC pic.twitter.com/Uc3feNQpeg
— Altcoin Sherpa (@AltcoinSherpa) March 29, 2023
Bitcoin in recent times is not getting impacted by external factors. Binance was recently sued by the authorities which failed to impact the volatility of the crypto space. Conversely, the BTC price soared high beyond $28,000. In the short-term, the price has exhibited a massive upswing due to which a giant move may be imminent in the coming days that may keep up the crypto markets under the bullish influence.
Filed under: Bitcoin - @ March 29, 2023 3:23 pm