Bitcoin nearly tapped $29,000 this morning as the bull run has continued. The leading cryptocurrency is up 5% nel passato 24 ore, having pushed from the $27,000 regione a $28,900 in the latest leg higher.
Bitcoin currently trades for $28,750 as bulls have failed to surmount the $29,000 resistenza.
Chart of BTC's price action over the past month from TradingView.com
Altcoins are underperforming during this rally higher.
Ethereum has only gained 3% nel passato 24 ore, underperforming Bitcoin’s rally. This has been a large trend of the past year, with BTC strongly outperforming altcoins as it sucks the air out of the Altcoin
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‘ href =”https://www.newsbtc.com/dictionary/altcoin/” data-wpel-link =”interno”>altcoin market.
This may largely be due to the composition of investors that are entering the cryptocurrency market. Where retail investors often push altcoins higher, institutional players are focusing their efforts on Bitcoin.
Lettura correlata: Ecco perché il mercato DeFi di Ethereum potrebbe essere vicino al fondo
Bitcoin ETF Filed
This latest leg higher comes as it was revealed that digital asset-friendly exchange-traded fund firm VanEck has once again filed for a Bitcoin ETF with the Securities and Exchange Commission.
Lettura correlata: 3 Le tendenze della catena di bitcoin mostrano che un mercato rialzista macro è in fermento
Immagine in primo piano da Shutterstock Etichette del prezzo: xbtusd, btcusd, btcusdt Charts from TradingView.com Bitcoin Nearly Taps $29,000 come Bull Run Continua
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