All of the top 10 coins are reporting in the green this morning with the majority of them reporting in double digit numbers. Only three coins out of the top 100 are reporting in the red this morning, two other them being stablecoins hovering around the $1 USD mark.
Some of the best performing altcoins this morning include Tron, which has surged +26% bringing it into the number 12 spot. Vechain is up 20% as it tries to crack into the top 20, but remains at position #22.
Bitcoin is up nearly 13% in the past 24 hours currently valued at $4,200 at time of writing. It seems most altcoins at this time are tied to Bitcoins performance as ETH and XRP are both up 13% and 11% respectively.
$15 billion has been added back into the market over the past 24 hours. With prices soaring and trade volume increasing, could this be a sign that the bears have left the market?
Is the market in full recovery?
While the appearance of a bullish closing hammer yesterday and double digit gains today, it may seem like this is a full corrective rally. But I wouldn’t get to excited over it yet.
Bitcoin’s major resistance level is currently around the $4100 to $4200 level. If we see Bitcoin break through this resistance level and hold, it could signal a full reversal of Bitcoin. It’s currently looking like a strong possibility that the full market reversal is upon us.
Some major crypto Twitter influencers are saying that the bears have gone and the bulls have returned. Other analysts are more careful saying that Bitcoins instability the past two weeks has resulted in many dramatic climbs and falls, and this could just be another.