Bitcoin and altcoins

Kristian Haralampiev, head of product at Nexo, said that Bitcoin’s re-entry to the $66,000 mark on April 22 could signal a change in market sentiment and could lead to an end to the current correction.

“Traditional financial markets turned accommodative following tensions in the Middle East, with risk assets rising while gold prices fell. Rising open interest in derivatives, as well as rising leverage and positions in options markets, suggest a rebound may be underway.”

According to an April 22 post by analyst Trader Alan, Bitcoin’s reclaiming of the $66,600 mark on the 4-hour chart could be a sign that prices are on the rise:

The breakout is associated with a “higher lower” pattern and the RSI has also broken out at the same time. This tells us that buying power is building and a strong bottom has formed for the LTF. This could lead to further price increases.”

Rekt Capital, a well-known analyst, said that if Bitcoin closes above the key resistance level of $66,600 this week, the market will confirm bullish momentum.

“Bitcoin is currently attempting to close above a critical level. A successful recovery would take BTC to $67,150, which would be the next critical threshold that BTC needs to overcome in order for its price to return to $69,000.”

Altcoin Markets in Green as Bitcoin Approaches $67,000 Region

Many projects in the top 100 recorded double-digit profits on the day, such as: Pendle (PENDLE), Pepe (PEPE), Bittensor (TAO), Sei (SEI), ImmutableX (IMX), Core (CORE), NEAR Protocol (NEAR), Stacks (STX), The Graph (GRT), Kaspa (KAS)…

Other projects include: Gnosis (GNO), Theta Network (THETA), Worldcoin (WLD), Beam (BEAM), Solana (SOL), Arweave (AR), Aave (AAVE), Nervos Network (CKB), Avalanche (AVAX), XRP (XRP), Uniswap (UNI), Mina (MINA), Wormhole (W), ApeCoin (APE), Optimism (OP), EOS (EOS)... rose 5-9%.

Ethereum (ETH) climbed back above $3,200 yesterday, gaining more than 1.5%.

The market has erased nearly all of its losses from the sharp drop from April 13, which took ETH to a local bottom below the $3,000 region.

(Personal opinion, not a recommendation)

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