- The mood across the crypto ecosystem is jubilant as Bitcoin has climbed above $30,000 for the first time since last June, signaling to many that a fresh bull market may indeed have begun and it's only a matter of time before the top crypto is hitting new all-time highs.
Data provided by TradingView shows that an early morning surge in Bitcoin lifted the top crypto above $30,000, with bulls managing to push it to a daily high of $30,662 in the afternoon before the price pulled back to support near $30,200.The rising price of BTC resulted in April Bitcoin futures prices hitting a contract high in early U.S. trading, according to Kitco senior technical analyst Jim Wyckoff.
Wyckoff is not alone in his view that the price uptrend has restarted. Katharine Wooler, business unit director at Coincover noted in a comment to Kitco Crypto that “BTC’s 10-month high should be a confirmation that we’re seeing a return of a crypto bull market.” Wooler pointed to the “sudden” emergence of a banking crisis over the past few weeks as a motivating event. “Investors have a renewed optimism in crypto as a worthy alternative investment to the traditional banking system,” she said.