As the altcoin space is looking for some consolidation after a strong rally, Bitcoin (BTC) seems to be gaining momentum. In the last 24-hours, the world’s largest cryptocurrency has gained nearly 4% moving past $51,500 levels.
More importantly, Bitcoin has managed to give a daily close above $50,750 levels points out crypto analyst Lark Davis.
#bitcoin just put in a daily close above a key area of resistance. Volume was not awesome, but this is a bullish break out and the highest daily close for BTC since mid May. pic.twitter.com/I5QJ0faSzY
— Lark Davis (@TheCryptoLark) September 6, 2021
As of the above chart, we can see that Bitcoin managed to give closing at $51,770 levels. This is for the first time in nearly four months that Bitcoin has managed to give such a stellar closing.
Over the last week, while altcoins have been raging for a while, Bitcoin continued to make steady gains. Bitcoin (BTC) gained nearly 8% over the last week amid heightened exchange flows (inflow and outflow combined). As on-chain data provider Santiment reports:
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