Hassan Maishera
TL;DR
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BTC is up more than 1% in the last 24 hours and hit the $64k mark earlier today.
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Altcoins are experiencing mixed performances, with some still in the red zone.
BTC Could Hit $65k Soon as Market Maintains Upward Momentum
The cryptocurrency market is starting the week positively, with Bitcoin and other leading altcoins currently in the green zone. Bitcoin, the leading cryptocurrency by market cap, is up nearly 1.5% in the last 24 hours and hit the $64,380 mark earlier today.
BTC has since retraced and now trades at $63,874 per coin. The leading cryptocurrency by market cap could rally higher in the short term and surpass the $65k psychological level if the bulls remain in control.
The positive performance comes as China's highly-anticipated stimulus announcement fell short of expectations. Analysts expect that Chinese-linked assets might underperform following the announcement, with investors pushing their funds elsewhere (including Bitcoin and other cryptocurrencies.)
If Bitcoin could push past the next resistance level at $66,000, it could rally higher to test the next significant resistance level around the $69k zone. Its all-time high price remains above $73k but analysts expect it to be broken in the medium to long-term.
While Bitcoin is currently in the green, altcoins are experiencing mixed performances. Ether, the leading altcoin by market cap, is up nearly 3% and trades above $2,500 per coin.
Solana (SOL), Dogecoin (DOGE), Ripple (XRP), and BNB are all trading in the green zone. However, Tron’s TRX, Cardano’s ADA, and Toncoin’s TON are down by 1% in the last 24 hours.
Bitcoin’s positive performance pushed the total cryptocurrency market cap above $2.2 trillion once again.
