Bitcoin Reclaims $50,000, Surges Past Key Resistance Level
CryptoNewsTerminal Staff04 Aug, 2024
Bitcoin Reclaims $50,000, Surges Past Key Resistance Level
Bitcoin (BTC) has reclaimed the $50,000 level, surging past a key resistance level that had been holding it back for weeks. According to data from CoinMarketCap, BTC is currently trading at $49,726.12, up by more than 5% in the past 24 hours. The move higher comes as Bitcoin continues to benefit from the recent surge in interest in cryptocurrencies. The total market capitalization of all cryptocurrencies has now surpassed $2 trillion, and Bitcoin's dominance is still around 40%. Analysts say that the breakout above $50,000 is a bullish sign for Bitcoin, and that it could lead to further gains in the coming weeks and months. However, they also caution that the market is still volatile, and that there is no guarantee that Bitcoin will continue to rise.
