Bitcoin Surges to $84,400 as Crypto Markets Rebound
Crypto markets have rebounded with significant gains after a week of stagnant price action:
- Bitcoin peaked at $85,000, currently trading at $84,400, up 4.7% in 24 hours.
- All cryptocurrencies in the CoinDesk 20 Index increased, with notable gains from Chainlink's LINK, Solana's SOL, and SUI.
- Traditional markets also saw gains, with the S&P 500 rising by 1.7% and the Nasdaq by 2.3%.
- Gold dropped below $3,000 after previously surpassing this threshold for the first time.
- Bitcoin closed above its 200-day moving average, currently at $83,767, indicating potential bullish momentum.
- A close above this moving average could suggest recovery from recent corrections; otherwise, it may signal further declines.
- Trader Bob Loukas indicated that both bitcoin and stocks might have more upward movement ahead as they recover from oversold conditions.
