Bitcoin posted strong gains this morning, having opened at US$16,400 before shooting up nearly 3% to US$16,900.
While still heavily discounted since plummeting after the FTX collapse, the world’s largest cryptocurrency has at least topped two-week highs. Bulls will be eyeing up US$17,000 as the next point of resistance to break through, while a strong book of buy orders at US$16,880 should act as support.
Ethereum has also enjoyed a rally for the second day in a row, having opened at US$1,125 before shooting up 5% for a going market price of US$1,280. If the US$1,300 barrier can be surpassed, ETH bulls could then eye up US$1,1340 at the next major price target.
Large-cap altcoins were all generally bullish this morning.