The psychological barrier of $50,000 finally broke yesterday after multiple tests of this level in the previous week. In addition, banks are revealing their interest in BTC and more public companies are starting to hop on the Bitcoin bandwagon as the first German company revealed its position today.
This rally could now extend to $63,000. Meanwhile, altcoins are feeling some pain in their BTC pairs as a result while Bitcoin dominance is crawling back up. The primary question is whether Bitcoin sustains this run and if altcoins will drop in their BTC pairs.
Bitcoin crushes further after holding critical levels XBT/USD 4-hour chart. Source: TradingView
Bitcoin’s price has been grinding up in the past few weeks, establishing some potential areas of support in the event of a pullback.
After the breakout above $40,000, the $43,000-43,500 quickly became the