Cryptocurrencies in the dust today. Bitcoin gained momentum above $ 47,000, with a balance of over + 6.7% in the last 24 hours (CoinDesk data) and thus bringing the balance back to the positive from the beginning of the year.
The largest cryptocurrency by market value has gained more than 12% since last Sunday (March 20) with a six-day streak of consecutive gains.
The risk-on on the markets is seen as an important support element for bitcoin and other cryptocurrencies. And this “bullish momentum” should continue in the short term according to QCP Capital which also indicates Bitcoin purchases from Luna as a positive catalyst. “A notable buying flow this week was the $ 125 million BTC purchase by the Luna Foundation Guard (LFG). This purchase is part of the plan to systematically accumulate a total $ 3 billion worth of BTC as reserve for TerraUSD (UST) “wrote QCP this morning.