Bitcoin Price Blasts Back Above $39K For First Time Since May 2022

Bitcoin price just breached above $39K for the first time in 2023, and the first time since May 2022.

With the latest resistance taken, what’s next for the top cryptocurrency by market cap?

Bitcoin Surpasses $39K As 2023 Rally Continues

Bitcoin price action is heating up on a Saturday afternoon, breaking above local highs and making it above $39K.

The move represents yet another higher high, another 2023 high, and has triggered several technical signals. More importantly, with BTCUSD now within striking distance of $40K, things are starting to get a lot more interesting for the cryptocurrency market.

Bitcoin breaks above $39,000. Is $40,000 next? |  BTCUSD on TradingView.com

Ethereum Joins In On The Crypto Market Rally

An important factor helping spark increased momentum in Bitcoin, is joint participation from Ethereum, which has lagged up until recently.

With additional market breadth, BTCUSD pushed higher along with several altcoins. Above $40K, and Bitcoin could find its way back around $50K or possibly even all-time highs before the end of the month.