After struggling for a couple of days, the dominant cryptos, Bitcoin and Ethereum, have surged beyond the major resistance and secured levels closer to their interim milestones. As assumed before, the liquidity from the memecoin mania may flow back into the major cryptos, and the same appears to have been in place. The BTC & ETH prices are trading close to $30,000 and $2000, which raises the possibility of resuming a healthy upswing hereafter.
Bitcoin’s transaction fees surge to a new high, with contributions from Ordinals inscriptions and BRC-20 transactions. BTC’s trend remains bullish, trading at around $29,100.
The cryptocurrency market is filled with potentially profitable trades that are sometimes hard to spot. Moreover, there are more than 12k crypto assets tracked by Coingecko and Binance-backed Coinmarketcap. Nevertheless, it is much easier to track the altcoin market in relation to the Bitcoin price action. Mind you, almost the entire altcoin market rides on the success of the top digital assets including Ethereum and BNB.
Ethereum price is trading in a positive zone above $1,850 support against the US Dollar. ETH could rally toward $2,000 if it stays above the $1,880 support.
The age-old commodity has emerged as a surprising ally for Bitcoin, the digital currency that was once regarded as a volatile investment gold. The connection between the alpha crypto and the valuable metal has consistently expanded, giving investors a place of refuge notwithstanding the continuous financial emergency and increasing loan fees.
BTC rose Tuesday afternoon as Alphabet and Microsoft first-quarter earnings surpassed expectations. Both equities and Treasury yields were down on Tuesday, however.
Earlier in April, the National Commission of Value (CNV), Argentina’s securities regulator, approved a Bitcoin-based futures index on the Matba Rofex exchange set to debut in May. The derivative, settled in pesos, will enable accredited investors to gain exposure to the Bitcoin markets.In addition, a recent bill proposed by the Ministry of Economy asked citizens to declare their crypto holdings and incentivized them with tax benefits. Also, in December 2022, an Argentine province announced its intentions to issue a dollar-backed stablecoin.