The crypto market had everything going right with bright prospects in the last 24 hours, with BTC crossing $31000 while its market cap surged higher.
BTC had a stellar run in the last 24 hours, with its market cap surging above $600 billion. The moment was short-lived, though, as it needed to see consolidation above the level. ETH, Cardano, XRP, and a few others were also trading with gains.
ETH is currently trading above $1950, inching closer to $2000. Its market cap has also increased to $234 billion. There was a big surge in the crypto market volume, going over $37 billion, which was more than a 25% rise.
BTC caught on to the rally, experiencing an increase in its buying levels. It added to the $1.22 trillion crypto market cap. Experts believe the market needed a major catalyst for BTC to cross further levels after the excitement of the BTC spot ETF has hit a few roadblocks. But signals for the crypto market still had significant bright prospects.
Attempts from bulls were not solid, which could have added to the sideways movement in the crypto market. Analysts also indicated the resistance levels for BTC could fall soon, propelling it toward $31000 more rigidly.
BTC/USD 1D price chart
Bitcoin is currently trading at around $30900 on July 4, 2023, with BTC/USD up by around 0.9% in the previous 24 hours. BTC/USD is trading above its 20-day EMA (28,391.57) as BTC’s 24-hour volume increased to around $15 billion. Bitcoin has seen around 86.56% returns on a year-to-date basis.