Key Points
Bitcoin's 21% year-to-date gain pushed its market capitalization above $1 trillion for the first time since December 2021, data from CoinGecko show..
Ether rose 4.1% in London on Wednesday, and altcoins like Avalanche, Polkadot and Polygon also climbed.AgenciesBitcoin has tripled since the start of last year in a comeback from the 2022 digital-asset rout..
A higher-than-expected US inflation print on Tuesday wasn't enough to derail the digital-asset recovery that began a little over a year ago and gained momentum in past months with the Securities and Exchange Commission's approval of Bitcoin ETFs..
At the same time, separate technical analysis based on chart patterns signals the possibility of a temporary dip to the high $30,000s, he said.. Sector-specific factors have been supporting Bitcoin, including the debut of US exchange-traded funds dedicated to the token..
"We expect the market to take a short pause here after a spectacular four-month-long rally, before the upcoming Bitcoin halving takes over the narrative," said Caroline Mauron, co-founder of digital-asset derivatives liquidity provider Orbit Markets...
