• Bitcoin was stopped at $25,000 after skyrocketing by almost $4,000 in two days
• Filecoin (FIL) has stolen the show today with a massive double-digit price surge.
• Most altcoins have also retraced following the latest price gains, with a few exceptions.
Bitcoin Rejected at $25K
Bitcoin had seen a significant jump in its prices over the last two days, rising from around $21,500 to above $24,900. However, when it came close to breaching the $25,000 level it was quickly pushed back down below the mark by bears.
Filecoin Explodes 18%
Despite bitcoin being rejected at $25K and most altcoins suffering from retracements due to recent gains, Filecoin (FIL) has surged by an impressive 18%. This means that FIL is currently one of the biggest gainers amongst all cryptocurrencies today.
US Regulatory Scrutiny Weighs on Crypto Prices
The recent surge in bitcoin prices is partly attributed to scrutiny coming from US regulators towards cryptocurrency exchanges and other crypto-related entities. This news had weighed heavily on the crypto market causing a drop in prices before it reversed course recently.
Price Volatility Remains High
With this sudden price movement in both directions over the past few days it is clear that volatility remains high across all major cryptocurrencies. These large swings can make trading risky but also offer traders large potential profits if they are able to correctly predict market trends.
The Future of Crypto Prices
It remains unclear where exactly bitcoin and other cryptocurrencies will go next as regulations continue to shape the future of digital assets around the world. Analysts remain divided about whether or not we will see more surges like this one or if BTC’s rejection at $25K marks an end of its current bull run for now.
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