Will BTC Reach 25K Amid Total Market Cap Surge to $1T?

Bitcoin in Green as Exchanges Defy Russia Ban Calls
  1. Crypto market capitalization of the whole crypto market space surged to over $1 trillion
  2. Crypto space has had a growth rate of +8.9 in the past 24 hours 
  3. Bitcoin price boost of nearly +12% percent.

The cryptocurrency space continues to make noise that can be heard in all corners of the industry. This time, the market capitalization of the whole crypto market space surged to over $1 trillion. The outstanding performance of the crypto space has had a growth rate of +8.9% in the past 24 hours. 

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Bitcoin price boost of nearly +12% is one of the factors to consider in this bullish performance of the market today. As seen below, the 1-day BTC chart has been breaking one resistance level to another since December 30, 2022, from $18K to $20K. If this aggressive performance of BTC continues in the following days of the month, BTC may reach a skyrocketing price from $25K to $30K in no time. 

As per the ALMA indicator, BTC seems to play very well as its price remains within the ALMA line, which is a bullish signal according to the rules of the indicator.

Source: TradingView

Meanwhile, the 1-day MACD of BTC remains in favor of the bulls. In detail, we can see that the MACD indicator continues its rodeo show above the signal indicator. This MACD trend strongly reflects BTC’s uptrend performance. Thus, traders can still trade with confidence without fear of price reversals. Do traders need to keep their BTC holders? It’s up to you; keep in mind to always follow your technical indicator rules to avoid irreversible losses. 

Source: TradingView

In other news, the largest cryptocurrency exchange by trade volume, Binance, has recently declared its support for the Terra Classic update, which aims to end the ongoing LUNC reminting.

The exchange announced the new feature, which is anticipated to excite the vast Terra Classic community, via its official Twitter account.

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