Bitcoin manages to record another 2-month high at $46,000 on different crypto exchanges. That was after the leading currency rose from its daily lows at $42,848, breaking past $45,000.
BTC registered the rising moves after early morning losses attributed to the US Infrastructure Bill uncertainties.
The cryptocurrency taxation proposal and the final modifications by Mark Warner and Sen. Rob Portman had most crypto enthusiasts alert during today’s debate. Meanwhile, the discussions did not bore fruitful results.
The unaltered bill will wait for voting on Tuesday, after the imposing of a 30-hour rule.
Even though the bill’s fate appears to hang, the crypto space seems to overpower the early morning price ambiguity. Bitcoin climbed to a 2-month high as it looks to test the $50K levels soon.
At the same time, ETH managed to rally over $3,100 following plummets that had it beneath $3K in the Asian morning session.
The top cryptocurrency by market cap looks to regain its bullish outlook after the struggles that saw it consolidating below $40K for almost three months. BTC’s recent moves saw it reclaiming the 200-day MA.
The crypto has never done that since May highs. However, the first weeks of August had Bitcoin moving out of the range between $30K and $40K. The coin seems to extend its bullish run once more.
Data by Bybt Bitcoin Futures shows a bullish attitude overtaking the market as long positions exceeded short trades. The current bullish momentum has experts predicting an extended Bitcoin rally.
Bitcoin (BTC) posted an 8-week high after recovering from the earlier daily loss.
Meanwhile, the fear and greed index suggests magnified traders’ greed. The metric indicated market sentiment, and it approached 65. The value has moved in a high fear territory, often plunging under 10.
The recent crypto prices had market players predicting surges, most digital coins rallying to new record highs. For now, Bitcoin shows possibilities of rallying past $50K. With the correct sentiments, the asset might explore levels nears its ATHs.
What are your views concerning Bitcoin’s latest price moves? Will the crypto sustain the surges? You can share your thoughts below.