The global market cap witnessed a surge of more than 4% in the past 24 hours and is approaching crucial resistance at $0.2
Besides, top cryptos like Bitcoin and Ethereum have surged beyond their interim highs and trying to materialize a firm upswing
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.
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.