Bitcoin’s rapid jump over $ 49,000 is driving Altcoins into double digits

On Sunday, the bulls made their intentions clear by accelerating the price of Bitcoin to over $ 49,000, a move that led many traders on Twitter to predict that BTC will beat the $ 50,000 psychological resistance.

Data from TradingView shows that after trading in a range near $ 48,200 for several days, the bulls managed to break higher and climb to an intraday high of $ 49,242, marking a 20 point rally , since hitting a low of $ 40,890 on September 29th.

BTC / USDT 4-hour chart. Source: TradingView

Profits come to Bitcoin after a week of roller coaster rides when markets struggled to gain momentum as new regulatory moves 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.

The move up has broken out in all markets and has helped lift altcoins, with many of the top 200 posting double-digit gains.

Terra (LUNA) saw its price break ahead of the rest of the market, rebounding 23.34% from a low of $ 37.52 on October 2 to a new all-time high of $ 46.09 on October 3, before hitting the current level fell back.

Source: TradingView

Secret Network (SCRT) also rebounded 20.3% to hit a three-month high of $ 3.15.

Source: TradingView

Notably, Tezos (XTX) rose over 20% to hit a new ATH at $ 9.18.

Source: TradingView

Some other double-digit winners are Shiba Inu (+ 13%) and Axie Infinity (+ 12%).

The total crypto market cap is $ 2.117 trillion and the dominance of Bitcoin is 42.5%.

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Annie

According to Cointelegraph

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