Bitcoin (BTC) Breaks the Downtrend and Passes the $30 Thousand Threshold

Cryptocurrency giant Bitcoin broke the long-running chain of decline and rose above the $30 thousand level. The sharp rise in Solana and Cardano also drew attention.

The weeks-long decline has worried Bitcoin and altcoin investors. Leading Cryptocurrency giant BTC, on the first day of the week, exceeded the level of 30 thousand dollars and mobilized the cryptocurrency market. Bitcoin, which lost value by 32.5% since the beginning of the year, started the week with a recovery. Having reached the level of 30 thousand dollars at the weekend, BTC reached a level above 31 thousand dollars with the transaction volume in the Asian markets. The second largest Cryptocurrency Ethereum, approached the level of 1900 dollars with an increase of 7 percent. At the start of the week, cryptocurrency Solana rose 12%, while trading at $43. Cryptocurrency Cardano, on the other hand, rose 13 percent to $ 0.6, while popular Dogecoin rose 3% to $ 0.083. Bybit Turkey Research Manager Beste Naz Süllü made a statement about Bitcoin on the start of the week: “When we consider Bitcoin technically; While the descending trend, which passed the level of 33 thousand, could not be broken in the first attempts, on the other hand, the price bottoms in Bitcoin are increasing. For this reason, the squeeze in the 29 thousand -33 thousand range is likely to break upwards unless we hear bad news about the market. With the break of the 33 thousand region, we can expect the reactions to reach 39 thousand region, which was the price level before the LUNA incident.”