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Bitcoin Leads Broad Crypto Rally After Defense of $30,000 Level

From bnnbloomberg.ca

Bitcoin pushed higher Monday as proponents took encouragement at its failure to breach the closely-watched $30,000 support level over the weekend. The largest cryptocurrency advanced 6% to $34,595 as of 2:10 p.m. in Hong Kong, in a second day of gains. The broad crypto space also gained, with the market cap of the ecosystem up about 8% to $1.43 trillion, according to CoinGecko pricing. “We’re seeing the $30,000 level on Bitcoin being defended quite well with a number of tests at that level over the past month,” said Vijay Ayyar, head of Asia-Pacific at crypto exchange Luno Pte. “We saw a lot of downward pressure on ... (full story)

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  • Category: Fundamental Analysis