Bitcoin Surges as Market Sentiment Shifts and Altcoins Rally.
Recent recovery in the cryptocurrency market indicates a bullish trend for Bitcoin (BTC) prices. According to Matrixport's evaluation dated April 23, as investor risk appetite increases and market uncertainties diminish, the likelihood of Bitcoin surpassing the $95,000 level strengthens.
Market Warms Up as Fear Eases.
The recent rebound in Bitcoin supports previously optimistic predictions for the cryptocurrency market. Notably, the increase in open positions in derivative markets shows that investors are willing to take on more risk, which heightens the probability of prices testing higher levels in the near future.
Bitcoin has yet to surpass the critical psychological threshold of $95,000. However, investors' concerns regarding external risk factors, like U.S. President Donald Trump's comments on tariffs, have lessened. According to Matrixport experts, this situation could facilitate Bitcoin overcoming its resistances.
Overall, the trend signals an upward movement. The recent zigzag yet predominantly upward price chart indicates that buyers are dominating the market. Particularly, long-term investors resuming their positions supports the sustainability of this rally.
Ethereum and Solana Also Rally.
Not just Bitcoin, but major altcoins like Ethereum (ETH) and Solana (SOL) have also benefited from this upward movement. While Ethereum has seen a slight decline in its strong performance over the past few weeks, it still maintains significant investor interest. Solana has also observed a renewed increase in trading volumes.
Overall, Bitcoin has made a strong upward leap since the end of March. Ethereum's performance appears more volatile, while Solana continues its horizontal movement within a specific range. Nevertheless, the overall trend indicates an increase in market.
