Bitcoin Shows Resilience While Altcoins Navigate Volatility

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In 2022, Bitcoin (BTC) experienced several temporary rises while steadily declining. Fast forward two years, and the situation has flipped, with Bitcoin now rising and seeking new peaks despite intermittent dips. Altcoins are also in a phase of volatility, but Bitcoin remains the primary cryptocurrency to watch.

Bitcoin (BTC)

As of the time of writing, the BTC price sits at $92,600, making a concerted effort to break through a key resistance level. Despite experiencing temporary declines, the repeated testing of resistance levels is encouraging. If BTC can maintain closing prices above $92,500 in the coming hours, it will likely propel towards the $97,000 mark.

We might see developments related to SEC Chairman Gensler’s resignation or statements from Trump affecting the crypto landscape. Reports of a proposed private meeting between Coinbase’s CEO and Trump about acquiring BAKKT, a crypto trading platform, have bolstered bullish sentiment.

Reflecting on 2022 makes current events seem logical. While discussions revolved around exchange bankruptcies two years ago, we are now talking about Trump acquiring exchanges. Back then, significant institutional sell-offs were the norm, whereas now, discussions center around Saylor’s recent $5 billion BTC purchases within a week.

Current Status of Cryptocurrencies

Exchanges like Bybit and OKX continue to list new assets. DOGE has surged past $0.40, marking a 10% increase today. SOL Coin looks poised to lift its all-time high, currently priced at $243. Unless we see downward trends due to economic concerns from China or inflationary pressures after U.S. market openings, BTC might rebound to $93,000.

The total volume in the cryptocurrency market has surpassed $185 billion, with a total market cap reaching $3.11 trillion. BTC maintains a weekly gain of 7%, while ETH has seen a 4% decline.

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