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Bitcoin gains over $1K in 24 hours

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Bitcoin (BTC) beat out previously unthinkable resistance on April 29 as a one-day bull run propelled markets towards $9,000, Cointelegraph reported.

Cryptocurrency market daily overview. Source: Coin360

Data from Cointelegraph Markets and CoinMarketCap tracked BTC/USD as it gained over $1,200 in just one day, topping out at $8,831.

As of press time on Wednesday, the pair circled $8,688, showing no signs of a major reversal.

Bitcoin 1-day chart. Source: CoinMarketCap

Just days ago, analysts were skeptical that bitcoin’s strong weekly performance could continue to quash major resistance around $8,500.

A band of resistance factors, including the 200-day moving average, nonetheless quickly fell in bitcoin’s best day for several months. 

CME futures gap

As Cointelegraph reported, BTC/USD is now fully recovered from its crash in mid-March, which saw markets drop to then 15-month lows below $4,000. 

Bitcoin’s gains since the start of the year are now challenging gold for the top spot in macro assets, with stocks trailing far behind.



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