Bitcoin surged past $64,000 before the weekly close on April 28, while altcoins aimed for a rebound. Data from Cointelegraph Markets Pro and TradingView showed increased momentum in Bitcoin’s price over the weekend.
After hitting a weekly low of $62,400, BTC/USD reversed its course and maintained levels around $63,500 at the time of reporting.
Altcoins also saw positive performance during off-hours trading, with the total altcoin market cap rising by approximately 1% for the day.
Popular trader Skew, commenting on recent market trends, noted the bounce in altcoins but expressed caution regarding their tendency to peak early in the week.
Skew anticipated sell-side pressure on Bitcoin around its range highs, which could hinder further bullish advances.
Trader and commentator Moustache expressed optimism about an upcoming “altseason,” suggesting it could rival the market’s performance during the 2017 all-time highs.
READ MORE: Bitcoin Holds Firm Above $63,000 Despite Regulatory Scrutiny and Economic Turbulence
He pointed to the monthly dominance chart of the stablecoin Tether, indicating a potential “backtest” after breaking below a rising trendline earlier in the year.
Market participants awaited the introduction of “TradFi” trading, such as Bitcoin futures, for additional insights into the crypto market’s trajectory.
Fellow trader Daan Crypto Trades shared positive sentiments about weekend price action, anticipating limited movement in Bitcoin until after the reopening of CME.
Despite consolidating below previous all-time highs, Bitcoin’s monthly chart drew optimism from trader Alan Tardigrade.
Tardigrade highlighted Bitcoin’s position above the Triangle Top on the monthly chart as a bullish indicator, emphasizing the necessity of consolidation for a sustained bull run in the future.
He compared Bitcoin’s current situation to the pre-breakout period of the Nasdaq Composite Index in 2013, suggesting potential for significant growth ahead.
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