Bitcoin and most altcoins saw a rise on Monday, continuing the positive trajectory that began late last week.
Bitcoin and Altcoins Surge
Bitcoin rose to $87,500, while tokens like Kaspa, Fartcoin, Solana, and Shiba Inu also showed double-digit gains.
Factors Driving Cryptocurrency Growth
The ongoing rebound in the crypto market is primarily driven by concerns about the potential firing of Federal Reserve Chairman Jerome Powell, hinted at by senior economic official Kevin Hassett.
Technical Analysis and Market Trends
Bitcoin has formed a bullish pattern, potentially indicating further increases. Altcoins like Shiba Inu and Solana also show positive technical signals, with Shiba Inu forming a double bottom and Solana exhibiting bullish divergence.
The current trends in the cryptocurrency market, driven by both economic circumstances and technical signals, suggest the potential for continued growth in both Bitcoin and altcoins.
