Bitcoin pumped over $1,000 this morning to reclaim the $30,000 level, after briefly dipping under $29,500 last night. Larger altcoins mirrored that move and pumped by high single-digit percentages as of press time, data from multiple tools shows.
The world’s largest cryptocurrency was dragged down this week against a rout in the global equity market—one that pundits peg to the ever-increasing COVID cases and mutants, while critics peg to that of high inflation in the Western countries.
It was, however, met with rejection at the $31,000 price level, and still trades below the 34-period moving average, suggesting the bearish trend isn’t ending yet.
This morning’s sudden pump, however, brought some temporary green to the red mess. Ethereum logged a 6% increase …