The current price of Bitcoin is $4032 (Bitmex Pricing), with 24 hour volume hovering around 4.9 billion USD . Bitcoin rose nearly 4.5% over the course of the past 24 hours, resulting in a $300 price jump .
Bitcoin has now rallied nearly 30% from 2018 lows , which were hit on December 15th The overall crypto market cap has seen a 36% increase in total market cap as 36 billion USD has flowed back into the market.
The market short-term bullish in recent price action. Bitcoin is a leading indicator for how alts will perform. As of right now, Bitcoin has broken above multiple points of control, including one such level around $3800 indicating some strength in the market.
We believe this rally will continue so long as $BTC can remain above $3966 (Bitmex Pricing) on 4hr time frames and higher.
At this point in time, to generate profit from greater potential upside (90% crypto, 10% fiat), it might be fruitful to add to its longs and increasing exposure to alts.
Case and point, we want to have high exposure to alts, here, as they typically act with more volatility than $BTC, in whatever way the market trends. If $3966 (Bitmex Pricing) doesn’t hold, then we will hedge ourselves neutral with shorts to protect against ensuing downside :x:.
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