Home Market Bitcoin surges 10% hitting 9-month high

Bitcoin surges 10% hitting 9-month high

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Bitcoin’s recent surge above resistance levels dating back to August 2022 strengthens the potential for continued upside, with $28,000 currently on the horizon.

Bitcoin Breaks Key Resistance Levels, Sets Sights on $28,000

Bitcoin’s upward momentum shows no signs of slowing down as the top cryptocurrency surged above key resistance levels during Asian trading hours on Friday. A breakout of the resistance level dating back to August 2022 and a limited rise last month shifted the focus to the next technical hurdle above $28,000.

Marcus Thielen, Head of Research and Strategy at Matrixport, a crypto financial services company, said: CoinDesk:

“Bitcoin now has a chance to rise to the next tech level of $28,000.”

He also noted that Bitcoin rose, reacted and retested from $4,000 increments ($16,000, $20,000, $24,000) amid larger price swings.

Read more: Bitcoin open interest has fallen by almost 15% over the past two weeks

Bitcoin price hits 39-week high, surges from $19,000 to $26,000, but sees leverage unwinding and all cryptocurrencies now worth $1.14 trillion Analysts believe Bitcoin price will likely remain bullish.

In addition to technical indicators, Bitcoin’s moves also seem to correlate with rate-sensitive tech stocks. Wall Street’s tech-heavy Nasdaq index rose 2.6% on March 16, confirming a bullish pattern on the daily chart.

Bitcoin’s recent surge in price is likely to reignite the debate over cryptocurrency volatility and prospects. It looks like

read more: Stealth QE: Federal Reserve Balance Sheet Increases by $300 Billion, Bitcoin Breaks $26,000

At the time of press, Bitcoin ranks first in terms of market capitalization, and the price of BTC is Up 10.09% Within the last 24 hours. The market capitalization of BTC is $531.19 billion 24 hours trading volume $51.72 billion. Learn more >

BTCUSD chart by TradingView

Bitcoin on-chain analytics
Market overview

At the time of press, the global cryptocurrency market is valued at $1.17 trillion 24 hours volume $86.13 billionBitcoin dominance is now 45.46%. Learn more >

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