Bitcoin and crypto assets market is trading bullish today and has increased its market capitalization by adding $14 billion in just 24 hours. The crypto market has made a brilliant recovery by reaching the figure of $215.
Bitcoin starts to move again
The world’s leading digital asset is currently leading the crypto market and has started to move again. Bitcoin has secured a 7% gain.
With this rise, the crypto market has turned bullish and its total market capitalization has reached $215 level after securing $14 billion gain under 24 hours. This has now become the highest value in the previous seven weeks.
Performance of Altcoins
The performance of altcoins is not bad as well. Most of the altcoins are trading green in the market.
Ethereum (ETH) has been able to secure a 4% gain in the 24 hours and has now crossed the $140 level. But the coin is still in the two-year bear market. Keeping in view its performance, it seems that it is not still strong enough to break out from this bearish market.
Two other altcoins Bitcoin Cash and Bitcoin SV have been able to lift them up. Bitcoin surged by 17% and reached $275 mark. While Bitcoin SV managed to secure 40% and jumped to $170 figure.
Most Coins are under major resistance
A crypto trader named Credible Crypto says that most of the coins are still under major resistance. He analyzed the chart patterns and said that there is nothing bullish until these resistance levels are broken. He stated in a tweet:
$ETH isn’t the only coin that looks like this right now…most coins are still under major resistance and have yet to prove themselves before we can say “the bottom is in”. I won’t believe it till we start flipping some major resistance levels until then this is just a dead cat.