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Bitcoin broke through $26,500 in its post-Christmas rally



Despite the large decline before the holidays, Bitcoin still performed strongly after Christmas. A few minutes ago, the leading cryptocurrency just broke $26,000 and has risen by 7% in the past 24 hours alone.

BTC has now reached an all-time high of $26,500.

Chart of BTC's price action over the past two weeks from TradingView.com

Since the leading cryptocurrency draws all the funds from altcoins, the performance of altcoins is surprisingly lower than Bitcoin. In the past 24 hours, Ethereum has only risen by 3.5%, underperforming BTC̵

7;s 7%.

Related reading: This is why the Ethereum DeFi market may bottom out

Bitcoin breaks through $26,000

Analysts have mixed opinions on the next move of bitcoin prices. Some believe that as the market becomes extremely overbought, cryptocurrencies have clearly reached their mid-term peak. A trader recently referred to the following chart to indicate:

“For me, the early warning sign is that the duration of each merger will be shorter, and the assembly itself will be shorter. In the next 4-5 weeks, see a 30% adjustment sometime in 19-20k I will not be surprised.”

However, with the influx of institutional funds into this area, Bitcoin may continue to push higher. More and more analysts are reluctant to focus only on the technological trends of leading cryptocurrencies, because it is clear that the dynamics surrounding Bitcoin demand have changed from previous market cycles.

Related reading: 3 Bitcoin chain trends show that a macro bull market is brewing
Featured Image from Shutterstock
Price tags: xbtusd, btcusd, btcusdt
Charts from TradingView.com
Bitcoin Explodes Past $26,500 in Post-Christmas Rally




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