Bitcoin jumps beyond $50K, leads the market as bull run continues

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There seems to be no stopping Bitcoin, as not only did it break the $50K support lines, but it passed it hitting $51,236 as of this morning.

The good news keeps flowing when it comes to Bitcoin. It is on a non-stop tear, blowing past the high $40’s to top $50K today. This firm position strengthens it’s poise to grow up to $60K, where if this trend continues it could hit new support levels where the new battle ground will take place.

The broader cryptocurrency market is still extremely greedy, as per a multifactorial crypto market sentiment analysis from Alternative, which analyzes emotions and sentiments from different sources and crunches them into one simple number: The Fear & Greed Index for Bitcoin and other large cryptocurrencies.

BTCUSDT on OKEx has successfully broken out of the ascending wedge pattern previously mentioned. However, it resolved in a bullish fashion, thanks to strong support from buyers. The price action has pushed BTC above the $50,000 milestone, with many traders now setting their sights on higher prices.


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