Bitcoin crosses key technical level after biggest one-day gain in months

The largest cryptocurrency is up 3% to $42,956 against the 50-day technical mark, near $42,810. It formed on Friday’s rise – the biggest since October – that took it above the key round-number level of $40,000, and was held over the weekend.

,Bitcoin Asia Head Vijay Iyer said, “Over the past few days it has broken some key levels and the downside trend is showing signs of bullishness,” but it is being capped by the 50-DMA and above it. needs to be shut down.” – Pacific in Luno Pte. “The next stop from here is $46,000 to $47,000.”

Amazon.com Inc. Bitcoin continues to rise above the technical mark amid better-than-expected US jobs report on Friday on the heels of strong earnings from the US. The cryptocurrency has been associated with riskier assets in recent months, and the S&P 500 is up 0.5. % Friday while the Nasdaq 100 rose 1.3%.

Bitcoin climbed above its 50-day moving average on Monday for the first time in more than two months.

The largest cryptocurrency is up 3% to $42,956 against the 50-day technical mark, near $42,810. It formed on Friday’s rise – the biggest since October – that took it above the key round-number level of $40,000, and was held over the weekend.

“Bitcoin has broken some key levels and a downward-trending line here over the past few days and is showing bullish signs,” but it is “limited by the 50-DMA and needs to close above it.” Vijay Iyer, Head of Asia-Pacific at Luno Pte. “The next stop from here is $46,000 to $47,000.”

Amazon.com Inc. Bitcoin continues to rise above the technical mark amid better-than-expected US jobs report on Friday on the heels of strong earnings from the US. The cryptocurrency has been associated with riskier assets in recent months, and the S&P 500 is up 0.5. % Friday while the Nasdaq 100 rose 1.3%.

Fundstrat’s Mark Newton said in a report that the largest cryptocurrency, which was aided by a raft of smaller liquidations on Friday with ether, “could move further in the coming weeks” given the technical breakout. $45,000 and then $51,100.”

Other top cryptocurrencies such as Ether and Solana were also slightly higher. According to CoinGecko’s pricing, standout movers include XRP’s 8.1% gain as well as a 7.4% advance in Memecoin Dogecoin and Shiba Inu up 26% over the past 24 hours.