Bitcoin surpasses USD 41,000, virtual currency market is in green color

Bitcoin surged on Feb. 5 as crypto traders increasingly believe the cryptocurrency market is slowly recovering from the recent slumps.

BTC price is up 11% in the last 24 hours to $41,274, breaking the key psychological level of 40,000 U.S. dollar for the first time since January 22, 2022. However, the largest digital currency is still a long way from the record value of around 69,000 U.S. dollar.

Technical indicators are showing a possible further increase in BTC price if the market stays above 37,000 U.S. dollar this weekend. In addition, the threshold of 40,000 is exceeded U.S. dollar can clearly signal the beginning of the recovery phase.

The green color also spread to other digital currencies such as Ethereum (up almost 11%), Solona (10%), Cardano (8%)…

Jobs report for January in the US

BTC price briefly fell after the US Department of Labor reported a stronger-than-expected job market in January 2022.

“BTC’s initial reaction to the January 2022 job report was bearish,” said Edward Moya, senior market analyst at Oanda.

However, he noted that “Bitcoin has stabilized again despite mounting inflationary pressures.”

Jason Deane, Bitcoin Analyst at Quantum Economics, said, “Bitcoin’s recent performance appears to coincide with the January 2022 US jobs report and this could be a catalyst for the market’s shift field.”

Elsewhere, the bitcoin market has more positive news as bitcoin mining company Marathon Digital Holdings increased its holdings to 8,595 bitcoins ($338). million dollars).

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page