Crypto Market Watch: Bitcoin touches $63,000 mark; notable increase in cryptocurrency market cap

Bitcoin recently surpassed the $63,000 mark, as per Rajagopal Menon, VP at WazirX. The cryptocurrency overcame resistance levels at $61,000 and $62,000 and is now above $62,000. The overall cryptocurrency market capitalisation rose by 1.88% in the last 24 hours.

Despite potential indicators of a drop to $60,000, Bitcoin remains above $62,800. A minor market pullback that might push the price slightly below $62,400 is anticipated.

Ethereum holds above the significant $3,000 mark, serving as a psychological barrier and a support level. Ethereum’s future price direction remains uncertain due to market dynamics.

Shivam Thakral, CEO of BuyUcoin, noted Bitcoin's resilience at the $60,000 level on multiple occasions, suggesting market strength. He indicated that once Bitcoin remains consistently above its previous high, it could trigger further growth in the altcoin market. AI and GPU-related cryptocurrencies have shown strong rebounds recently.

Bitcoin and Ethereum are at crucial points, with potential shifts depending on economic indicators and investor sentiment. Despite bullish momentum, investors are advised to monitor support levels and market indicators for possible trend changes.

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