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Bitcoin (BTC) price rose above $81,900 on Tuesday, marking its highest level in 94 days. The digital currency increased by 1.42% over the past 24 hours, and by 6% this week.
Cryptocurrency markets generally experienced a significant rise, with the total market capitalization reaching approximately $2.71 trillion over 24 hours. Ethereum, XRP, Solana, Dogecoin, Toncoin, WIF, and Zcash all posted substantial gains, in addition to the recent surge in Bitcoin's price.
Sentiment improved as tensions in the Middle East eased and expectations grew regarding the possibility of the Federal Reserve cutting interest rates.
Analyst predicts Bitcoin price could rise toward $94,000 after a bullish signal
According to crypto analyst Ali, Bitcoin's price is gaining increasing momentum as a bullish technical signal appears on weekly charts. He explained that previous MACD crossovers typically indicated long-term market uptrends. Bitcoin's price has already increased by more than 15% since the last crossover in April.
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