The cryptocurrency market turned bullish on Thursday, with the market capitalization gaining 3.1 percent to reach $1.74 trillion. As of 1230 hours GMT, the price of Bitcoin, the world’s oldest and most valued cryptocurrency, gained 2.9 percent in the last 24 hours to reach $44,104. The market capitalization of the biggest crypto has reached $863.4 billion with this increase. Bitcoin has been 2.1 percent up in the past seven days. Bitcoin is now trading above $44,000 following renewed buying activity that propelled it beyond $44,700. Increased BTC transactions and the potential approval of a spot BTC ETF are contributing to an optimistic market sentiment. The upcoming resistance is situated at the $44,700 level, with BTC currently experiencing a 35 percent decline from its all-time high. With bulls not ready to take BTC below $40,000, bears are not letting BTC cross $45,000. Historically, December has proven to be a major price action month and it is yet to be seen whether BTC has already made a local top or the bull market has just started to heat up. One of the hottest investments of the season, Solana is also continuing its rally, with SOL breaching the $87 mark for the first time since May 2022 and became the 4th largest crypto after BTC, ETH and BNB.
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