Bitcoin Rallies Up, Reach $30000 Next?

Bitcoin regained its climb toward $30,000, touching $29000 a few hours ago. As we write, BTC is at $28,598.

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Amid uncertain global markets and concerns about the fallout from Binance’s legal woes, Bitcoin is taking a fast track toward bullish behaviour.

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Other tokens also rallied, with XRP jumping about 4.4%, Cardano increasing 7% and Polygon rising 3%.

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BTC gained as much as 4.9% to $28,638 on Wednesday, after $29,000 on March 22, the highest since June.

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The RSI (Relative Strength Index) for Bitcoin crossed a crucial threshold on Wednesday, signaling the potential for more upward momentum to the cryptocurrency’s 66% price rally in 2023.

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“This is a little bit of a moment for the crypto universe,” said Peter van Dooijeweert at Man Solutions.

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CFTC lawsuit alleged that Binance has violated U.S. derivatives rules.

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