Market UpdateLast week, the cryptocurrency market exhibited a robust bullish trend, led by Bitcoin’s significant price surge. Bitcoin started the week by surpassing $66,000, reaching a peak of $67,482, and causing substantial liquidations of short positions, amounting to over $120 million. This bullish momentum was bolstered by technical indicators suggesting potential further gains, with analysts eyeing a target of $68,000. Despite holding strong closer to its all-time high than other major cryptocurrencies, Bitcoin’s dominance in the market remained evident. However, the NFT market faced a contrasting trend, with sales dropping by nearly 9% across top blockchains. The week concluded with mixed sentiments about the duration of the bull run, as the Cryptoquant CEO predicted it could last until April 2025. Overall, Bitcoin’s performance highlighted its resilience and influence in the crypto economy amidst ongoing market fluctuations.
