Bitcoin broke the $26,000 markBitcoin is breaking through the $26,000 mark thanks to a daily gain of more than 17 percent. The last time this happened was in June of last year. Bitcoin is currently trending upward and has not only surpassed the psychologically important $25,000 mark, but also briefly surpassed $26,000.
The last time bitcoin broke the $25,000 mark was about three weeks ago. However, the bears quickly reasserted themselves and pushed the price down. According to Cheds, a Twitter trading channel, the price doesn't need to fall below $25,500 to confirm its bullish tendencies.
Bitcoin, the largest cryptocurrency by market capitalization, is up about 25% since last Friday. Given the collapse of SVB and Signature Bank, which were considered cryptocurrency friendly, this rally was quite unexpected.
