Crypto Market Continues Uptrend as BTC and ETH Maintain Momentum
Bitcoin (BTC) and Ethereum (ETH) have maintained their uptrend in recent days. Over the past 24 hours, Bitcoin has traded near $64,869, up 1.54%, while Ethereum climbed to $1,921, up 1.21%. The total cryptocurrency market capitalization stands at $2.21 trillion, a 1.35% increase over the same period.
The weekly chart for Bitcoin shows a significant bullish divergence that has been confirmed across multiple weekly candle closes. Analysts say this setup is comparable to one seen near the end of the 2022 bear market and could play out over coming months rather than days.
Ethereum's 3-day chart still shows an active 'W' double-bottom pattern, but resistance in the $1,950 area has capped rallies for weeks. The bullish breakout target for this pattern sits at $2,070-$2,080.