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Bitcoin price crosses $41,000, check the latest cryptocurrency prices

/ Business News / By

Bitcoin’s price crossed $41,000 on Wednesday and most other cryptocurrencies, including Ethereum, were in the green, according to data on CoinDesk.

The world’s largest cryptocurrency, Bitcoin, rebounded after remaining in the red for a week. The world’s second largest cryptocurrency, Ethereum, also made strong gains to surge over the $3,000-mark.

“The daily trend for BTC looks encouraging as it continues to traverse in a bullish manner within an ascending channel pattern. We could expect an upward momentum in the coming days based on the recent trend behaviour. The next resistance is expected at $48,600 and an immediate support for BTC is expected at $37,600,” said Siddharth Menon, COO of WazirX.

On the other hand, Ether, the coin linked to the ethereum blockchain and the second largest cryptocurrency also jumped more than a percent to $3,094. Meanwhile, dogecoin price today surged more than 3% to $0.14 whereas Shiba Inu jumped nearly 2% to $0.000025.

Bitcoin

“A key indicator of Bitcoin’s recent price rise is the late-afternoon rally in the Nasdaq 100 (NDX) by close to 80 points. Given that Bitcoin is so highly correlated to the NDX in 2022, the cryptocurrency also saw a late flurry in the early hours of April 19,” said Darshan Bathija, CEO and co-founder of Vauld.

“The continued high correlation between BTC and the NDX shows that the crypto is very risk-on. This could be a deterrent to Bitcoin’s recovery as the NDX is 3.5% below its 100-day moving average (DMA) whereas Bitcoin is currently testing its 100DMA,” he added.

XRP was down by 0.13 per cent, Terra gained 6.12 per cent, Solana was up by 5.53 per cent, Avalanche gained 1.72 per cent, Cardano was up by 1.80 per cent, and Polkadot gained by 4.24 per cent.

Other alt coins such as Dogecoin and Shiba Inu were up by 3.05 per cent and 1.33 per cent respectively. 

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