📈 Major cryptocurrency gains early in the week and tests $31,000 zone
Monday's trading session on the broad market is performing somewhat mixed. Stock market indices and commodities mostly drop, which can be justified by the impact of strong upward movements on Treasury bond yields, which for the US 10-year note broke out of the 5% level (unseen since 2007).
The exception to the general pessimism is Bitcoin, which has gained more than 15% over the past two weeks. Today, optimism on the quotations of the major cryptocurrency was largely triggered by the overtones of a Morgan Stanley report, where analysts said that the "crypto winter" colloquially referred to by investors may be coming to an end, and the thaw may be initiated by a seasonal response to BTC's halving period, which at this point is estimated for early April 2024.
Bitcoin started the new trading week in a very good mood. The major cryptocurrency is currently gaining nearly 3%, and for a while it was trading more than 4% higher intraday, testing the $31,000 barrier. Trading over the weekend was relatively quiet. Source: xStation 5
