Daisy Watts 
Feb 12, 2024
In the latest twist of the crypto rollercoaster, Bitcoin notched a modest 0.74 percent gain on Monday, with the world's leading cryptocurrency clocking in at $48,101 (approximately PKR 13,287,838) at press time.
Over the weekend, Bitcoin experienced a notable uptick of $1,826. Analysts speculate that if Bitcoin breaches the $48,970 threshold, the next stop could well be the elusive $50,000 mark — a milestone that has eluded Bitcoin since December 2021.
In contrast, Ether failed to mirror Bitcoin's upward trajectory, witnessing a slight dip of 0.55 percent. Presently, Ether stands at $2,498.
"Over the weekend, Bitcoin maintained its stronghold above $48,000, hitting its highest point in 26 months, fueled by substantial inflows into spot Bitcoin ETFs the previous week," remarked Edul Patel, CEO of Mudrex, to Gadgets360. "Concurrently, Ethereum also reached a peak of $2,540 — its highest since January 19 — and is presently consolidating around $2,500, with resistance at $2,620 and support at $2,440."
While Bitcoin managed to maintain its resilience amidst regulatory scrutiny and market volatilities, cautionary advice looms on the horizon. "BTC's ability to weather regulatory storms and market dynamics highlights its potential for further growth, but investors should remain vigilant, keeping an eye on key resistance levels and external factors influencing market sentiment," cautioned Rajagopal Menon, Vice President of WazirX.
The broader crypto landscape witnessed a downturn, with several major cryptocurrencies, including Binance Coin, Ripple, Dogecoin, Cardano, and Avalanche, experiencing losses on Monday. Altcoins such as Solana, Binance Coin, Shiba Inu, Litecoin, Bitcoin Cash, and Uniswap also dipped in value.
Despite the overall market downturn, select cryptocurrencies like Bitcoin Cash, Litecoin, Uniswap, Near Protocol, and Monero managed to eke out minor gains. Additionally, market analysts anticipate significant token unlocks throughout the week, with notable releases including Sandbox's SAND and Aptos, among others.
As the crypto market navigates through fluctuating tides, the spotlight remains on Bitcoin's journey toward the elusive $50,000 mark, while investors brace themselves for potential market shifts and regulatory developments in the days ahead.
