Bitcoin recently exceeded the $63,000 milestone, according to Rajagopal Menon, VP of WazirX. The cryptocurrency has overcome resistance levels of $61,000 and $62,000 and is now trading above $62,000. The total cryptocurrency market capitalisation increased by 1.88% in the last 24 hours.
Despite potential hints of a collapse to $60,000, Bitcoin is still above $62,800. A little market pullback is expected, with the price falling just below $62,400.
Ethereum remains above the key $3,000 threshold, acting as both a psychological barrier and a support level. Ethereum's future price trajectory is unpredictable owing to market dynamics.
Shivam Thakral, CEO of BuyUcoin, has often underlined Bitcoin's stability at the $60,000 level, indicating market strength. He stated that if Bitcoin maintains regularly above its recent high, it may spark more rise in the altcoin markets. AI and GPU-related cryptocurrencies have recently had substantial returns.
Bitcoin and Ethereum are at critical junctures, with potential swings based on economic data and market emotion. Despite the current positive momentum, investors should keep an eye on support levels and market indicators for potential trend changes.
