Bitcoin sent shockwaves throughout the crypto world with a bullish 4.75% upwards to $47,372, according to data from CoinMarketCap. The latest leg-up tested the long-term Bitcoin resistance of $47,500 and signaled a major bullish direction. Market analysts are expecting the leading blockchain to break $50,000 and signal the beginning of a new bullish movement. 

The market-leading cryptocurrency had a strong week as it broke through resistance straight to the $47,500 level. If Bitcoin is able to sustain the upward move, $52,000 is ahead as the next target level. This area is viewed as resistance by leading market forces and is expected to be an important level to pay attention to. 

Breaking any levels ahead could potentially open the $60,000 level, which has not been seen since October 2021. A pullback at this price could mean that $45,000 acts as the new support. Some traders are expecting a partial pullback to develop momentum into the upcoming bullish movement. Given the move ahead of the weekend, the odds of a $50k breakout seem increasingly likely. 

Bullish Bitcoin Price Movement - Key Factors 

The current movement behind Bitcoin’s bullish movement has been supported by extensive institutional buying. According to data from Bloomberg, Inflows are rapidly flowing into Bitcoin exchange-traded funds (ETFs) from leading firms like Fidelity, Blackrock, and ARK Funds. 

Another report from Coindesk elaborated that Bitcoin ETFs now hold more BTC than Microstrategy. The funds through the end of the week held more than 192,500 Bitcoin. This is 2,000 more than MicroStrategy, the largest public holder of Bitcoin. The trend of institutional holding is consistently increasing as funds added more than 5,000 BTC to their holdings in February. 

The bullish movement of Bitcoin is expected to have a major impact on the altcoin market, with several projects looking primed for their next leg upward. A key project that has attracted market attention in this landscape is Algotech (ALGT). 

Algotech (ALGT) Expected to Lead Growth After Stunning Private Seed Round 

Decentralized TradFi platform Algotech recently attracted headlines after its groundbreaking private seed round. The platform raised over $1.1 Million within two days, with funds expected to elevate progress in development. Market demand for the platform has also been consistently increasing, with the presale stage 1 rapidly selling out at $0.04 a token. 

Algotech (ALGT) is expected to be an important holding during the bull run because of the project’s high potential. Aside from the deflationary tokenomics, the project also offers governance rights and profit shares to holders. Traders are excited about the platform launch because of anticipated features like breakout detection, mean reversion, and hedging. 

For more details about this project:

Visit Algotech Presale

Join The Algotech Community

_{Disclaimer: This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $350. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.}