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Bitcoin Bulls Anticipate BTC Price Surge Beyond $30K

bitcoin CoinGecko reports that Bitcoin (BTC) has experienced a 6.0% increase in price over the last 24 hours, currently standing at mid-$29,000s.

Bitcoin Bulls Anticipate BTC Price Surge Beyond $30K

Despite being down approximately 4.5% from its 10-month high above $31,000 earlier this month, Bitcoin has shown signs of recovery by bouncing back nearly 10% after testing its 50-Day Moving Average in the $27,000 range a few days ago bitcoin.

As First Republic comes under scrutiny once again, concerns over bank crises have resurfaced, leading to a safe-haven demand for Bitcoin bulls.

Bitcoin Bulls Anticipate BTC Price Surge Beyond $30K

Additionally, with the surge in tech stocks (which Bitcoin has a positive correlation with),

the bulls are anticipating a significant price surge beyond the psychologically crucial $30,000 level.

In addition to the macro fundamentals, Bitcoin is currently experiencing tailwinds from technical buying.

This is due to the strong rebound from both the 50-day moving average and the 200-day moving average,

as well as the realized price below $20,000 back in March. Moreover, the “golden cross” that occurred in early February

is also contributing to the cryptocurrency’s technical strength bitcoin.

Several analysts have pointed out on Twitter that Bit bitcoin

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