Crypto market sees strong surge, with Bitcoin crossing $52,000 and Ethereum reclaiming $2,700.
ETF inflows hit $4 billion, boosting market dynamics and pushing Bitcoin’s market cap past $1 trillion.
The cryptocurrency market is witnessing remarkable strength this week, with Bitcoin surging above $52,000 for the first time since December 2021. This bullish momentum has not been limited to Bitcoin alone, as altcoins have also exhibited significant strength. Ethereum (ETH) notably reclaimed the crucial support/resistance level at $2,790, leading the charge among alternative cryptocurrencies.
Analysts are closely monitoring Bitcoin’s movement, particularly as it approaches a significant weekly resistance level from December 2021. Michaël van de Poppe, founder of MN Trading Consultancy, suggests that the ongoing pre-halving rally could continue unabated if Bitcoin surpasses this resistance. Van de Poppe predicts a peak between $54,000 and $58,000 if this bullish trend persists.
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