Bitcoin surges above $30,100: here are the driving factors

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  • The price of bitcoin is above $30,000 for the first time since June last year.
  • The bounce comes after a month of consolidation around $28K.
  • Analysts have set the support level at $25,000 and the resistance level at $30,000.

bitcoin price It climbed above $30,100 early on Monday and remained above that level for the better part of the morning. It hit a daily high of $30,160.48 but was trading at $30,126 at press time.

This is the first time since June 2022 that bitcoin has reached $30,000, thus reinforcing the bull run the cryptocurrency began at the beginning of the year.

What pushed bitcoin price above $30,000

BTC price has gained more than 46% in the past few months to a ten-month high.

many analysts had Predicted That Bitcoin Will Reclaim Its $30,000 Value As traders await the United States Consumer Price Index (CPI) report on April 12. The CPI is expected to give insight into the Federal Reserve’s fight against inflation.

The Crypto Fear and Greed Index Has Remained Within the “Greed” Zone for the Past Week latest update Putting the score at 68 out of a possible 100. The Crypto Fear and Greed Index numerically presents “sentiments and sentiments” towards the cryptocurrency market and bitcoin.

The 68 Crypto Fear and Greed Index score is the highest bitcoin has ever scored since scoring 66 on November 16, 2021, just days after bitcoin hit an all-time high of over $69,000.

However, despite the high Crypto Fear and Greed Index score, a most technical indicators Still points to a strong bullish trend which points to a possible long term bull run in the coming days.

Post Bitcoin Soars Above $30,100: Here Are the Driving Factors first appeared coinjournal,

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