Hassan Maishera
TL;DR
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Bitcoin and Ether continue to trade around the same level over the past 24 hours following the recent bearish run.
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Market experts still believe that the bear market is over, and Bitcoin could hit new highs over the next few months.
Bitcoin And Ether Stay Flat
Bitcoin, the world’s number one cryptocurrency by market cap, has seen its value remain flat over the past 24 hours. BTC is down by 0.26% over the past 24 hours and continues to trade above the $27k level.
The poor performance came after Bitcoin rallied towards the $31k level earlier this week. However, the bulls have lost steam since then, and the bulls are now looking to defend the $26,500 support level.
Ether also rose to an 11-month high of $2,141 earlier this month but has since retraced some of its earlier gains. ETH is trading at $1,826, down by less than 1% in the last 24 hours. The total cryptocurrency market cap remains at $1.16 trillion.
According to the data obtained from Coinglass, most of the liquidations in the market over the past 24 hours came from short positions, indicating that the market could still rally higher from here.
Investors in the crypto space and the broader market would be watching earnings from Microsoft and Alphabet which are scheduled for April 25. Crypto has shown a great correlation with the tech-focused NASDAQ in recent months and the upcoming earnings report could affect the broader crypto market’s performance in the near term.
