Before US market trading opened, the world's largest cryptocurrency Bitcoin gained more than 2% with the price of BTC passing $27,400. With today's price action, Bitcoin has broken through the key resistance of $27,200 and is poised for an upward journey ahead.
Popular crypto analyst Michael Van de Poppe notes that the recent price breakout sets Bitcoin up for a surge to $36,000 and beyond.
BTC's strong move made the market bullish in recent moves and bounced back up to $27.2K. Breaking this level is seen as important to jump to a higher level. So far BTC price is only trading close to temporary lows & high potential to go higher.
Another crypto analyst Ali Martinex explained that there is a buy signal on the $BTC daily chart, anticipating a potential recovery. However, it depends on BTC's ability to hold above $26,360″.
According to the latest data, the number of Bitcoin addresses with more than 100 BTC remaining has increased by 200 addresses in just the last four days. Along with Bitcoin other altcoins in the market have also gained momentum. The world's second largest cryptocurrency Ethereum (ETH) has gained more than 1.5% jumping past the $1,800 level and is currently trading at $1,830.
Other altcoins such as Cardano (ADA), Solana (SOL), and Polygon (MATIC) have all gained between 1.5-2%. Another altcoin that gained the most was Litecoin (LTC) which surged by 7.5% in the last 24 hours amid strong address activity driven by the recently introduced LTC20 protocol.
