Bitcoin recently surpassed the $63,000 mark, according to Rajagopal Menon, vice president of WazirX. The cryptocurrency broke through the $61,000 and $62,000 resistance levels and is now above $62,000. The overall cryptocurrency market capitalization increased by 1.88% in the last 24 hours.
Despite possible indicators of a drop to $60,000, Bitcoin remains above $62,800. A small market pullback is anticipated that could push the price slightly below $62,400.
Ethereum remains above the important $3,000 mark, serving as a psychological barrier and support level. The future direction of Ethereum price remains uncertain due to market dynamics.
Shivam Thakral, CEO of BuyUcoin, highlighted Bitcoin's resistance at the $60,000 level on multiple occasions, suggesting the strength of the market. He indicated that once Bitcoin consistently stays above its previous high, it could trigger further growth in the altcoin market. AI and GPU-related cryptocurrencies have shown strong rebounds recently.
Bitcoin and Ethereum are at crucial points, with potential swings depending on economic indicators and investor sentiment. Despite the bullish momentum, investors are advised to monitor support levels and market indicators for possible trend changes.
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