BTC price climbs to highest level in four weeks as altcoins lag
The crypto market is in a buoyant mood on Monday after bitcoin rose to $93,350, its highest level since Dec. 11, before giving back some of those gains.
The bulk of the move occurred at midnight UTC, around the time bitcoin futures trading opened on the CME exchange, which created a “gap” between $90,500 and $91,550.
These gaps typically get filled over the course a few days, meaning the price will likely return to the $90,500 level at some point since week.
Traders are mainly focusing on bitcoin as opposed to altcoins, with the industry’s largest asset rising by 1.33% since midnight, while the CoinDesk Meme (CDMEME) and Metaverse (MTVS) indexes lost 6.4% and 2.3%, respectively over the same period.
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