Bitcoin‘s volatility has been mirrored in other cryptocurrencies, with ETH, BNB, XRP, and SOL, among others, experiencing price squeezes. Cardano’s ADA, on the other hand, has been the biggest gainer among the top cryptos, rising 10.23% in the last 24 hours to trade at $0.64.
Overall, most cryptocurrencies reflected strength, with the global crypto market cap reclaiming the $1.24 trillion mark after a 2.31 percent increase in the previous day. However, all eyes are now on BTC as investors wait to see if the price will break out of its four-week range after a string of positive technical and fundamental developments.
Technically, BTC’s price has printed a bullish reversal ascending triangle pattern, which if confirmed, could push the price up to $38,000. It must, however, overcome overhead trendline resistance as well as the $32,400 barrier. If the price breaks below the triangle’s current trendline support, a worse sell-off will occur.