Cryptocurrency markets are heaving this morning after climbing above $8,000 early this morning. Bitcoin is up 10.23% at $8,069.66, and Ethereum is up 14.86% at $752.29. The only other cryptocurrency with impressive gains was Ripple, which is up 53.13% at $0.295.

The cryptocurrency scene is currently undergoing a considerable renaissance, with the price of Bitcoin (BTC) soaring to $5,800 on Friday last week, a 15% gain since it hit a low of $5,000 on December 1. The total market capitalization of all cryptocurrencies is now at $116 billion, which represents a 14% increase from the $100 billion figure it reached this time last year.

The world of cryptocurrency is filled with speculators and newbies. Speculators and newbies are the two types of people that make up the vast majority of cryptocurrency users. As such, it’s no surprise that the recent gains in Bitcoin value have been accompanied by a mixture of people, some speculating for a quick buck, some believing the value will rise, and others just hoping to make a quick buck. All in all, a healthy balance of both types of people is needed to keep the market’s value stable.. Read more about bitcoin squeeze and let us know what you think.

BTC gains 15% in 3 hours amid tight squeeze

 

Bitcoin’s price has risen by more than 10% in only a few hours, rising from about $35,000 to just short of $40,000 on July 26.

Price movement indicates a strong short squeeze that happened when prices broke over $35,000, with bullish momentum rapidly increasing as prices surged 15% in less than three hours from approximately $34,000 to $39,800.

We’ve got our squeeze, people. https://t.co/Lflcp7MZuw

July 26, 2021 — Willy Woo (@woonomic)

BTC, on the other hand, has risen from about $30,000 to $34,000 in the last five days. Bitcoin is now trading for about $38,500 as of this writing.

Bitcoin is the biggest gainer among the top 30 crypto assets by capitalization during the last 24 hours, according to CoinMarketCap, with a gain of almost 13%.

Several technical indicators have returned to giving positive signs as a result of the unexpected rise, with renowned analyst Lark Davis telling his 426,000 followers that BTC’s price is once again rising above its 50-day moving average.

#bitcoin has just regained the 50-day moving average! Nice! pic.twitter.com/xpS3kiUV16

July 26, 2021 — Lark Davis (@TheCryptoLark)

Polkadot and Chainlink are also among the top gainers for the day, both up more than 11% in the last 24 hours.

With Dogecoin up less than 9% for the day, it seems that Elon Musk’s Twitter account’s influence on the meme-markets coin’s is waning. On July 25, Tesla’s CEO posted a meme claiming that “Dogecoin is money.”

Despite Musk’s attempts, Dogecoin seems to have followed the wider altcoin markets, with most large-cap crypto assets seeing double-digit increases for the day.

Bitcoin is a digital currency.

July 25, 2021 — Jay OKEX CEO (@JayHao8)

Bitcoin’s pricing is indicating a’megaphone’ bottom pattern and a breakthrough toward $40,000.

Despite Ethereum’s fast-approaching London upgrades next month, the cryptocurrency is still behind the pack, with a rise of approximately 7% in the last 24 hours. 

As a result, over the last day, ETH has been the worst-performing cryptocurrency among the top ten by market capitalization.

As expected, Bitcoin has been marked by a huge rise in prices over the past 24 hours, rising more than $500 in the BTC/USD exchange rate. The price of BTC has risen almost from $6,600 yesterday to $7,200 today, while the market has remained stable.. Read more about btc bear and let us know what you think.

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