6% rally above $30K for bitcoin
The rise in bitcoin pushed the total crypto market capitalization to $1,4 trillion.
Above 30.000 dollars the bitcoin, for the first time since June 2022, rallying more than 80% YTD.
The recovery is even sharper than its nearly 20% rise Nasdaq xnumx – with which bitcoin tends to move in tandem – and pares back some of the biggest cryptocurrency's losses from 2022 after a series of crypto-related bankruptcies.
Still, Bitcoin is down more than 50% from its all-time high in November 2021, Bloomberg notes.
$30 milestone
“The 30 thousand dollars is very importantwhatfor both technical and fundamental reasons," said Mati Greenspan, its CEO Quantum Economics.
“The resistance has been building up for three weeks straight and now it's finally broken.
This is the first time we've gone through this level since the collapse of Terra/Luna and Three Arrows Capital.
Essentially it means the price has fully recovered from Celsius, FTX and the US regulatory crackdown.”
Capitalization of 1,4 trillion dollar
According to Investing.com. the rise to bitcoin pushed the total crypto market capitalization to $1,4 trillion.
The Ethereum registers an increase of 3,3%, while the Binance Coin and Ripple strengthen by 4,6% and 2,3% respectively.
His last rally bitcoin comes amid a broader improvement in sentiment as markets began to price in the possibility of a limited number of rate hikes by the Fed in the coming months, particularly as the economy of the US is slowing down.
www.bankingnews.gr
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