Bitcoin breaks the $26,000 mark on a daily gain of over 17 percent. The last time this happened was in June last year. Bitcoin is currently trending higher and not only broke the psychologically important $25,000 mark, but also briefly broke $26,000.
Bitcoin last crossed the $25,000 mark about three weeks ago. However, the bears quickly reasserted themselves and pushed the price down. According to Cheds, a Twitter trading channel, the price should not go below $25,500 to confirm its bullish trends.
Bitcoin, the largest cryptocurrency by market cap, is up about 25% since last Friday. Considering the collapse of SVB and Signature Bank, which were considered to be crypto-friendly organizations, such a rally came as quite a surprise.