Bitcoin has surged to a three-month high during Asian trading today, topping out at $10,400 according to Tradingview.
The move has added almost nine percent on the day to BTC prices, the majority of it in one big green hourly candle a couple of hours ago.
Trader and analyst Josh Rager commented that a close above $10,370 would be “insanely bullish.”
The previous high was around $10,500 and until this level is broken, BTC markets are still in a downtrend. It is crucial that the bulls step up this time and take prices higher to confirm a two-year trend reversal.
Since the big pump, BTC has pulled back to the $10,100 area so the next few hours will be critical.
The move has lifted total crypto market capitalization to its highest level since late February at around $283 billion.
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