Bit-comment: Bitcoin breaks above $12,000

Bitcoin holds the positions reached the day before around $11,800. The benchmark cryptocurrency is looking at the next round resistance level at $12,000. Although before the new jump up, it is possible that players can take a step back, as it often happens in the markets.

There are enough optimists in the crypto sector ready to support the BTC, while the increased instability of the markets and geopolitical situation promotes growth, as investors are looking for ways to save capital in the safe haven.

Against this background, the Bitcoin dominance index soared to 68%, its highest since April 2017. Such significant demand had a positive impact on the asset price. If Bitcoin manages to close the session steadily above $12K, it may open the doors to the highs of the end of June, but in this case, the growth will be more solid. Bitcoin proves over and over again this year that we are in a bullish phase.

The FxPro Analyst Team