Bitcoin (BTC) shell out previously unthinkable resistance on April 29 as a i-day bull run propelled markets towards $9,000.

Cryptocurrency market daily overview. Source: Coin360

BTC price delivers 12% daily gains

Data from Cointelegraph Markets and CoinMarketCap tracked BTC/USD every bit it gained over $1,000 in simply one day, topping out at $8,695.

As of press time on Wed, the pair circled $8,650, showing no signs of a major reversal.

Bitcoin ane-24-hour interval chart. Source: CoinMarketCap

Just days agone, analysts were skeptical that Bitcoin'due south stiff weekly performance could proceed to quash major resistance around $8,500.

A band of resistance factors, including the 200-mean solar day moving boilerplate, yet rapidly fell in Bitcoin'due south best solar day for several months.

CME futures gap on the horizon

As Cointelegraph reported, BTC/USD is now fully recovered from its crash in mid-March, which saw markets drop to then 15-month lows below $iv,000.

Bitcoin's gains since the kickoff of the yr are now challenging gilt for the pinnacle spot in macro assets, with stocks trailing far behind.

In the brusk term, equally analyst Squeeze noted among others, a CME Bitcoin futures gap at $ix,125 could prove to be the next short-term target for bulls.

Commenting on the day'south performance, Cointelegraph Markets analyst filbfilb summarized:

Bitcoin has striking an of import resistance betoken at $8,800 which normally takes some time to work through so there'due south likely to exist more volatility to come for the next few days.

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