- Investors' attention turns to Bitcoin, which in the evening broke above the $35,000 cap!
- The cryptocurrency is gaining on an intraday basis of 8.8%, although there was no precise information on the market to prove the move.
- It is worth mentioning, however, that for days BTC has pierced successive important technical levels, which could provide the basis for such bullish momentum.
Evening trading in Asia-Pacific markets brought a huge upward momentum to Bitcoin which momentarily broke above the $35,000 levels. At the moment, the cryptocurrency is trading slightly below this zone, nevertheless, which is worth noting, this momentum was not dictated by a specific piece of information coming from the market.
On the other hand, however, it seems that the wave of optimism is linked to the omnipresent narrative related to spot ETFs, which, although they have not yet been approved, so the market is increasingly talking about the question of the timing of this event. Recall that yesterday the bullish sentiment in the BTC market was supported by Morgan Stanley, whose analysts spoke relatively favorably about the possible prospects for BTC valuation in the coming months.
However, it is worth remembering that the scale of the current movements is very large, so we can expect increased volatility on the instrument in the rest of today's session. Investors should exercise extreme caution when analyzing further possible behavior of BTC.
Bitcoin has temporarily crossed the $35,000 barrier and is currently trading in the $34,500 zone. What is worth mentioning, these levels have not been traded since May 2022. Source: xStation 5
Bitcoin has temporarily crossed the $35,000 barrier and is currently trading in the $34,500 zone. What is worth mentioning, these levels have not been traded since May 2022. Source: xStation 5
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