Bitcoin (BTC) managed to climb to the highest level since the beginning of January.
Bitcoin (BTC) price briefly rose to $47,600 overnight on the Binance exchange, reaching its highest level since Jan. The cryptocurrency started to give positive signals with the sudden price increase. However, it is still 32% away from hitting its all-time high of $69,044.
At the time of writing, Bitcoin is trading just below the $47,000 level on major spot exchanges and is struggling to prolong its uptrend. The leading cryptocurrency has surged roughly 26% over the past two weeks, putting the bulls back in the driver’s seat. However, it is not yet clear whether this rally will continue.
The strength of Bitcoin has boosted Ethereum (ETH) by around 5.5% over the past 24 hours, while also boosting some of the top altcoins.
For example, Holo (HOT) is one of the altcoins with the highest rise of 32% in the top 100. Polkadot (DOT), on the other hand, is currently the best performing altcoin in CoinGecko’s top 10 with an increase of more than 7%.
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