On October 3, the bulls made their intentions clear by briefly raising the price of Bitcoin (BTC) above $ 49,000, prompting many Crypto Twitter traders to demand that the highest-rated digital asset reduce psychological resistance to $ 50,000.
Data from Cointelegraph Markets Pro and TradingView shows that after trading in an upper limit range of around $ 48,200 for several days, the bulls were able to break higher and climb to a maximum intraday of $ 49,242, and had a rally of 20% since they traded at 49 lows. $ 242. … $ 40,890. September 29.
4-hour BTC / USDT chart. Source: TradingView
Bitcoin’s gains over the weekend came after a volatile week that began with markets battling for momentum after renewed regulations in China affected market sentiment. Towards the end of the week, some positive news came from the US Federal Reserve leader Jerome Powell, who confirmed that the Fed did not intend to ban cryptocurrencies.
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BTC’s bullish move has spread across the markets and helped boost altcoin prices, with more coins in the top 200 showing double-digit gains.
Market indicators for daily cryptocurrency. Source: Coin360
Terra (LUNA) rose ahead of the rest of the market, rising 23.34% from a low of $ 37.52 on October 2, reaching a new all-time high of $ 46.09 in the early morning hours of October 3. The Secret Network (SCRT) also rose to 20.3%, recording a daily high of $ 3.07.
Other notable increases include a 13% increase in Shiba Inu (SHIB) prices and a 12.4% increase in Tezos (XTZ) and Axie Infinity (AXS) prices.
The total market value of cryptocurrency is now $ 2.161 trillion, with a bitcoin dominance of 41.4%.