In a surprising turn of events, bullish momentum has stormed the crypto market, marking a notable 3% surge in the total market cap to $1.61 trillion. Bitcoin, a key player in the crypto landscape, made strides with a resilient rebound off the $40,000 support, currently hovering at $42,900, indicating potential tests of the $45,000 mark.
Despite the prevailing bullish sentiment, an intriguing twist emerges as the bulls find themselves facing more liquidations than their bear counterparts. Approximately $223 million in total liquidated funds has been recorded, with bulls taking a $125 million hit, leaving bears with $95 million.
Ethereum, a significant altcoin, experienced a brief dip below $2,150 but was swiftly rescued by bullish intervention. At present, Ethereum stands at $2,243, showcasing a 2.8% uptick. The potential retest of the $2,400 zone hinges on surpassing the $2,332 mark and forming a new higher high.
A standout performer in the market is SEI, ranking as the 3rd largest gainer with a remarkable 39% increase, currently trading at $0.342. Breaking through the December 6th high, SEI sets the stage for a potential 41% climb to reach its $0.48 listing high on Binance.
IOTX, holding the 4th position among gainers, exhibits a 24% price surge, reaching $0.05268. The critical juncture lies in the breakout scenario, where a successful breach of the $0.05268 resistance could propel IOTX to a further 24% rally or face a decline to $0.04467.
VeChain (VET) is on the brink of overcoming the resistance at $0.0329, persisting since May 2022. With a 3% gain over the last day, VET has the potential for a 30% rally to $0.045 upon a successful breakout.
As the crypto market continues its rollercoaster ride, investors remain vigilant, watching key indicators and resistance levels across various assets. The dynamics of liquidations and bullish rebounds emphasize the need for strategic decision-making in these volatile times.
In conclusion, the crypto landscape proves once again its dynamic nature, offering both challenges and opportunities for traders and investors alike. Stay tuned as the market unfolds its next chapter in this ever-evolving financial frontier. #BTC #ETH #SEI #İOTX #VET