Bitcoin’s stealth rally has bulls eyeing $51,000 once again

Bitcoin’s stealth rally has bulls eyeing $51,000 once again

Bitcoin’s under-the-radar rally over the last few days has bulls once again eyeing levels the coin hasn’t seen since the start of the year. The largest cryptocurrency by market value rose nearly 4 per cent at one point Monday, reaching $47,881. That’s its highest level since the start of the year and the propulsion rounds out its year-to-date gains to around 3 per cent. Elsewhere, the MVIS CryptoCompare Digital Assets 100 index – which tracks tracks the performance of some of the largest digital assets — was up more than 5 per cent as of 12.04pm in New York. Bitcoin and other cryptocurrencies had been, up until the last few weeks, mired in a similar downtrend as other riskier assets, like US stocks. But a weekend rally above $45,000, a key level watched by chartists, helped garner momentum for a bigger breakout. The coin has added 15 per cent over the past week. “It’s been a choppy start to the year, not just for crypto, but across all asset classes. So I think certainly, it’s an exciting morning in the crypto community to see that year-long, so far, of losses erased, and also seeing Bitcoin break out above that psychological