Bitcoin, which has continued its upward trend in recent months, made a rapid start to December.
Reaching the level of $ 41,500, the highest level since April 2022, BTC experienced a 5% increase in the last 24 hours.
Altcoins also followed BTC's rise. While Ethereum, the largest altcoin, rose to $2250, other major altcoins also experienced an average increase of 3%.
Looking at the chart, it can be seen that BTC has broken the upper part of the uptrend. Especially if persistence above $40,000 is achieved, higher levels may be seen in the coming days and there may be higher inflows to altcoins that are relatively low compared to BTC.
In the current situation, the most important resistance seems to be at $ 42,500 when looking at past periods. Because this level had previously served as strong support and resistance.
On the other hand, it appears that a short position of $144 million has been liquidated in the last 24 hours. Whether BTC holds at these levels or not will be decisive for its future movements.
When we look at the fear and greed index in the market, it is seen that it is in the “Greed” position with 74 points.
*This is not investment advice.
