{"id":300861,"date":"2023-02-19T16:17:39","date_gmt":"2023-02-19T16:17:39","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=300861"},"modified":"2023-08-04T15:22:40","modified_gmt":"2023-08-04T14:22:40","slug":"bitcoin-breaks-25k-once-again-as-bullish-momentum-gains","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/bitcoin-breaks-25k-once-again-as-bullish-momentum-gains\/","title":{"rendered":"Bitcoin breaks $25k once again as bullish momentum gains"},"content":{"rendered":"<p>[cs_coin]BTC[\/cs_coin]\u00a0has broken above $25,000 on Binance for the third time in three days, defying broader market trends and continuing its bullish run into 2023.&#8221;<\/p>\n<p>Bitcoin reached a local high of $2,050 over the weekend before retracing slightly to $24,880, following a gain of 7.28% since Friday's low of $23,332.<\/p>\n<figure id=\"attachment_300862\" aria-describedby=\"caption-attachment-300862\" style=\"width: 1024px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-large wp-image-300862\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/02\/BTCUSDT_2023-02-19_15-47-20-1024x540.png\" alt=\"BTC-USD\" width=\"1024\" height=\"540\" srcset=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/02\/BTCUSDT_2023-02-19_15-47-20-1024x540.png 1024w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/02\/BTCUSDT_2023-02-19_15-47-20-300x158.png 300w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/02\/BTCUSDT_2023-02-19_15-47-20-768x405.png 768w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/02\/BTCUSDT_2023-02-19_15-47-20.png 1415w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><figcaption id=\"caption-attachment-300862\" class=\"wp-caption-text\">Source: Trading View<\/figcaption><\/figure>\n<p>The core psychological resistance of $25,000 was also tested on Feb. 17 and 18, with the leading cryptocurrency by market cap unable to break through convincingly. Each time Bitcoin has passed $25,000 throughout 2023, it has fallen back below within the hour.<\/p>\n<p>However, the move follows Bitcoin's strong performance since the start of January, seeing it climb 50% year to date. Bitcoin started the year at around $16,000 but rose steadily in the first couple of months.<\/p>\n<figure id=\"attachment_300864\" aria-describedby=\"caption-attachment-300864\" style=\"width: 1024px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-large wp-image-300864\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/02\/BTCUSDT_2023-02-19_15-51-43-1024x494.png\" alt=\"BTC USD TYD\" width=\"1024\" height=\"494\" srcset=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/02\/BTCUSDT_2023-02-19_15-51-43-1024x494.png 1024w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/02\/BTCUSDT_2023-02-19_15-51-43-300x145.png 300w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/02\/BTCUSDT_2023-02-19_15-51-43-768x370.png 768w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/02\/BTCUSDT_2023-02-19_15-51-43.png 1415w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><figcaption id=\"caption-attachment-300864\" class=\"wp-caption-text\">Source: TradingView<\/figcaption><\/figure>\n<p>Bitcoin also spearheaded an increase in the overall crypto market cap, which has surpassed the $1 trillion mark and currently sits at $1.14 trillion. The only top 10 project with a better seven-day performance is Polygon which is up 18.83% in the last week compared to 13.4% for Bitcoin.<\/p>\n<figure id=\"attachment_300865\" aria-describedby=\"caption-attachment-300865\" style=\"width: 882px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-300865\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/02\/Screenshot-2023-02-19-155309.jpg\" alt=\"crypto market cap\" width=\"882\" height=\"454\" srcset=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/02\/Screenshot-2023-02-19-155309.jpg 882w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/02\/Screenshot-2023-02-19-155309-300x154.jpg 300w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/02\/Screenshot-2023-02-19-155309-768x395.jpg 768w\" sizes=\"(max-width: 882px) 100vw, 882px\" \/><figcaption id=\"caption-attachment-300865\" class=\"wp-caption-text\">Top 10 crypto projects<\/figcaption><\/figure>\n<p>Over the past 24 hours, Cardano and Dogecoin saw a 1.95% and 1.77% gain, respectively, leading the top 10, with Bitcoin rising 0.74% as of press time. Bitcoin, however, is also up 2% in the past four hours as it recovered from earlier lows of $24,600 on Sunday.<\/p>\n<p>CryptoSlate analysis showed that Futures Open Interest remained flat throughout the weekend while 7k BTC\u00a0 was pulled off exchanges suggesting the move was spot trading driven.<\/p>\n<h2>Ordinals excitement<\/h2>\n<p>Upgrades to Bitcoin, such as Taproot, led the way for innovations such as the Ordinals protocol, allowing Sats to be &#8216;incsribed' with information similar to an NFT on other chains. While the technology differs, the outcome is a non-fungible digital asset similar to an NFT on other chains such as Ethereum.<\/p>\n<p>Interest in Bitcoin Ordinals has put the blockchain on the radar of NFT collectors and developers since late 2022, and excitement has continued to <a href=\"https:\/\/cryptoslate.com\/insights\/over-100k-ordinals-minted-on-bitcoin\/\">grow <\/a>as on-chain activity <a href=\"https:\/\/cryptoslate.com\/how-ordinals-are-affecting-bitcoin-mempools-transaction-size\/\">spiked<\/a>. While Ordinals have split the Bitcoin <a href=\"https:\/\/cryptoslate.com\/communist-bitcoiners-exposed-by-ordinals-as-control-freaks\/\">community<\/a>, there is no argument that it has shone the spotlight on Bitcoin, the flagship cryptocurrency project.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[cs_coin]BTC[\/cs_coin]\u00a0has broken above $25,000 on Binance for the third time in three days, defying broader market trends and continuing its bullish run into 2023.&#8221; Bitcoin reached a local high of $2,050 over the weekend before retracing slightly to $24,880, following a gain of 7.28% since Friday&#8217;s low of $23,332. The core psychological resistance of $25,000 [&hellip;]<\/p>\n","protected":false},"author":1264,"featured_media":293956,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[120,78756,15323],"tags":[],"prediction_market_topic":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bitcoin breaks $25k once again as bullish momentum gains<\/title>\n<meta name=\"description\" content=\"Cardano and Dogecoin see modest gains as Bitcoin rises 2%\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/bitcoin-breaks-25k-once-again-as-bullish-momentum-gains\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" 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