Crypto Markets: Return of the Bull Market?

The crypto market tends to validate its push to surpass $2 trillion, up about 5 percent in the past 24 hours. As Bitcoin price recently broke a key resistance level, the market is likely to continue rising as it has done for the past two weeks.

Crypto markets have been worrying since November and now appear to be showing signs of a possible mid-term trend reversal. Is this yet another tech trap, or should we see it as a shift towards the November 2021 peak? Response element

As of this writing, the crypto market has a market cap of $2.12 trillion, according to Coinmarketcap. The market has gained more than $400 billion in the past two weeks.

The next phase will return to the level at the beginning of the year to erase all losses in 2022. The crypto industry will need to expand by another $100 billion to $150 billion to make this happen.

Notably, the cryptocurrency market peaked at over $3 trillion last November. At the time, the price of Bitcoin was near $70,000, a new all-time high.

Notably, the Crypto Fear and Greed Index, which measures market sentiment toward digital assets, is back in profit (greed). This is the first time in weeks. Given the current bullish session, it is around 60/100 today and should continue to rise tomorrow.

The $45,500 level has been seen as a significant resistance level for the Bitcoin asset for several weeks. Last night, around 10.30pm, this level was suddenly broken. In France.

Then, the price of Bitcoin jumped from $44,800 to $46,100 in a matter of minutes. This $45,500 level will not be tested for the next few hours.

BTC could test this $45,500 level by the end of the session. The token is currently worth $47,067. Transaction volume was $36 billion, an increase of more than 100% in the past 24 hours. The price of Bitcoin will likely be determined by the end of the session. And, indirectly, for the entire crypto market!

Altcoins are following the dynamics of Bitcoin, with Ethereum trading above $3,300, and Binance Coin just breaking the $425 barrier. For the most part, they outperformed the mother of all cryptocurrencies.

In the past 30 days, the top ten altcoins, excluding Shiba Inu, have gained more than 10%. The only downturn this week can be attributed to the Terra project's LUNA coin.

The fact that the Terra project has grown significantly before this week explains this. If the market continues to rise, the coin has entered a correction phase.

The news will once again play a pivotal role in the crypto market and be very informative. Especially the global geopolitical context surrounding the conflict between Ukraine and Russia. A major shift in armed conflict could have an impact on the cryptocurrency market.

Other factors, such as central bank monetary policy, will also play a role in the short- to medium-term evolution of digital assets. Although the market seems to have taken into account the Fed's rate hike policy.

Finally, the health of China could have an impact on the cryptocurrency market. China's largest city, Shanghai, is currently shutting down some people in the face of a new virus outbreak.