Bitcoin’s outlook went on an upward curve, riding on BTC, touching $67,000 in the last 24 hours, while other altcoins also saw their respective market caps expanding.
A few days after the BTC halving event, the crypto market shows no bearish signs. In fact, Bitcoin’s outlook has been on an upward trajectory since the event. In the early hours of April 23, BTC breached $67,000 and went above $67,100. Since then, it has settled below the mark, but the sudden spike may indicate the presence of crypto bulls. In the short term, traders could see Bitcoin above $70,000 soon.
In the US, crypto stocks saw a major jump in prices recently. These firms, mainly dealing in Bitcoin mining, went through mini rallies. Other crypto stocks, like firms with significant crypto holdings, also surged, contributing to a better outlook for crypto.
Fidelity Digital Assets, a global fund manager, also raised its predictions on Bitcoin’s outlook. In a recent report, the firm said, “The number of addresses with more than $1,000 has grown roughly 101% since 2023 from 5.3 million addresses to today’s value of 10,617,971 addresses.”
Here, $1,000 refers to addresses holding at least $1,000 worth of BTC. Thus, there has been a jump in small retail crypto investors.
Several tokens are presently sitting on positive weekly gains. ETH rallied more than 3% in the last seven days, as did other tokens like SOL and XRP.
BTC/USD 1D price chart
Bitcoin is currently trading at around $66,500 on April 23, 2024, with BTC/USD trading higher by a margin of 0.7% in the last 24 hours. Bitcoin’s market cap was trading at around $ 1.31 trillion in the last 24 hours.
BTC/USD is trading below its 20-day EMA (67,115.25), as BTC’s 24-hour volume was at around $23 billion. The global crypto market cap increased by around 0.23%, trading above $2.44 trillion. BTC’s year-to-date returns are at 58.12%
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