Why Crypto Market is Up Today?

Author: Elena R Apr 11, 2023 11:26

Elena R

Author

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing – accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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Bitcoin, the oldest and most valuable cryptocurrency, has climbed above $30,000 for the first time since June 2020. The surge is attributed to renewed investor confidence in crypto after the collapse of crypto-friendly institutions in March. Other major cryptocurrencies have also seen gains, leading to an overall boost in the market. Traders are anticipating that the upcoming consumer price index release could lead the Fed to pause rate hikes, boosting assets like Bitcoin. Meanwhile, Ethereum is rising ahead of its “Shanghai” tech upgrade, which may cause selling pressure as locked funds are released.