Bitcoin Tests $23,000 in Fresh Bull Run
There has been a price uptrend in the cryptocurrency market in the past few hours and the most prominent crypto asset by market value, Bitcoin (BTCUSD), has been crossing multiple crucial resistances since the start of the year.
In the last 24 hours, Bitcoin price tested $23,000, pushing the cryptocurrency assets market capitalisation above the $1 trillion mark, a level seen in 2 years. Recall that the market cap of all the digital assets had printed at $3 trillion before spiralling downward below $1 trillion.
According to market data, the coin is now up 12% after it traded at $23,008, making BTC break through the $22,000 and $23,000 resistance levels with a limited uptrend.
In the crypto market, investor sentiment has weakened to an all-time low after crypto crashed following macroeconomic pressures across the world. Strong dollar, inflation and global disruption, especially the Russia-Ukraine war, have been a downside to a possible rally.
According to data reviewed, Ethereum and Bitcoin reaped massive gains, along with the other top altcoins. This led to the entire crypto market experiencing a resurgence in almost all aspects.
At the time of writing, the current market cap of the entire cryptocurrency market is at $1.04 trillion, according to data from crypto exchange reviewed # Now, Bitcoin price has slumped to $22,800 while making a further attempt to re-cross the line. Bitcoin Tests $23,000 in Fresh Bull Run