Bitcoin Nears $40K as Crypto Market Sentiment Improves; Altcoins Eye Further Gains
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Bitcoin finally broke above $38,000 resistance level and is nearing $40,000, boosting overall crypto market sentiment.
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Approval of Bitcoin spot ETF in January could further boost Bitcoin and altcoin prices. However, some selling post actual event is likely.
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Technical analysis shows Bitcoin could rally to $41,160 and if that level holds as support, even $48,000 is possible.
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Multiple altcoins like KAS, RUNE, MNT and RNDR are seeing bullish chart patterns, indicating potential for further upside if key resistance levels are broken.
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Traders should watch key support levels on these altcoins to see if uptrends remain intact or deeper corrections set in.