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Altcoins, led by dash, heat up as bitcoin nears breakout: Crypto Markets Today
Source: CryptoNewsNet Original Title: Altcoins, led by dash, heat up as bitcoin nears breakout: Crypto Markets Today Original Link: https://cryptonews.net/news/analytics/32268977/ Bitcoin rose above $92,000 on Tuesday, with the move being backed by a 25% increase in daily trading volume to $37 billion.
The next major test for the largest cryptocurrency is $94,500, a price that has provided three successive rejections on Jan. 6, Dec. 10 and Dec. 3.
A breakout above that resistance level would signal a move toward $100,000 for the first time since November and a trend reversal from a corrective phase stretching back to early October, which has been characterized by a series of lower highs and lower lows.
The altcoin market is also starting to heat up, with privacy-focused DASH surging by as much as 63%, the most in five years, after a breakout at around 03:00 UTC, with the move liquidating $1.3 million worth of short positions.