Bitcoin, currently valued at $80,160.14, has seen a 1.8% increase since midnight UTC, rebounding from a low of $75,650. This level, which previously acted as a resistance point during the last week's rally, now serves as a crucial support. The rebound signifies a shift towards a bullish trend, with $75,650 emerging as a key support level that could facilitate another attempt to breach the $80,000 threshold. Meanwhile, Ether is trading at $2,344, displaying more bearish tendencies than bitcoin, characterized by a series of lower highs since April 17.
The overall market is experiencing an uptrend as US investors await the release of earnings reports from major tech companies, including Alphabet, Microsoft, Amazon, and Meta, all scheduled to report after the market close on Wednesday. Nasdaq 100 futures are up 0.25% in pre-market trading, reflecting the optimistic sentiment.
Additionally, derivatives positioning and token performance are being closely monitored.