On Sunday, the cops made their intentions clear by accelerating Bitcoin (BTC) price to over $ 49,000, a move that led many traders on crypto twitter to demand the top-rated digital asset for the psychological one Hit resistance at $ 50,000.
Data from Cointelegraph Markets Pro and TradingView show that after trading in the upper bounds near $ 48,200 for several days, the bulls managed to break higher, climbing to an intraday high of $ 49,242, a gain of It was 20% since trading at $ 40,890 on 09/29.
Bitcoin weekend gains come after a week of roller coaster rides that began with markets struggling to gain momentum after a new regulatory move in China weighed on market sentiment. There was some positive news over the weekend from Federal Reserve Chairman Jerome Powell, who confirmed that the Fed has no intention of banning cryptocurrencies.
Related: Futures-based Bitcoin ETF has a “75% chance of approval” – analyst in October
BTC’s upward movement has broken out across all markets and has helped raise altcoin prices, with many of the top 200 coins seeing double-digit gains.
Terra (LUNA) saw its price break ahead of the rest of the market, rising 23.34% from a low of $ 37.52 on October 2nd to a new all-time high of $ 46.09 in the early morning of October 3rd. Secret Network (SCRT) also rebounded, gaining 20.3% to hit a daily high of $ 3.07.
Other notable gains include a 13% increase in Shiba Inu (SHIB) and a 12.4% increase in Tezos (XTX) and Axie Infinity (AXS) prices.
The total crypto market cap is $ 2.161 trillion and the dominance of Bitcoin is 41.4%.