Data extracted from CoinTelegraph Markets Pro and TradingView revealed BTCUSD adding another 5% Tuesday to temporarily return to the psychologically critical price level.
- With the recent success of Bitcoin’s “Uptober,” bears have been swept aside as resistance levels collapsed.
- The largest cryptocurrency had taken advantage of macro uncertainty heightened by massive social media outages affecting Facebook, Instagram, and others.
- CoinTelegraph contributor Michaël van de Poppe suggested upside was the more likely conclusion for current events, with a decline likewise limited in scope.
- Van de Poppe further stated that it seems more likely that Bitcoin will be breaking upwards towards nearly $50,000 or maybe even the recent high and then drop slightly towards $49,000 before streamlining back to an upward trend.
Bitcoin has led major altcoins in the cryptocurrency market. Only Dogecoin (DOGE) recorded greater gains in the last 24 hours, these at 10% versus BTC’s 5%. The largest altcoin, Ether (ETH) was 2% higher at slightly over $3,400.
BTC USD up +4.57%, ETH USD +3.40%, DOGE USD down -1.18%Source: CoinTelegraph