After a tough few weeks, the crypto market is back – with Bitcoin ($BTC) emerging as one of the frontrunners of this resurgence.

The Bitcoin price has soared by over 7.5% in 24 hours, surpassing the $28,000 level with ease, as investors become optimistic about the coin’s hopes once more.

At the same time, the brand-new meme coin project Wall Street Memes ($WSM) continues to make considerable strides in its presale phase – and is now nearing the $10 million milestone.

Bitcoin’s Surprise Rebound Signals Shift in Investor Sentiment

At the time of writing, Bitcoin is hovering around the $28,800 level, following a bullish uptick that has surprised investors.

Before this uptick, Bitcoin had been on a steady downtrend, with price dropping as low as $24,800 last week – the same as in mid-March.

Numerous external factors created a strong bearish sentiment around $BTC, with the SEC’s decision to sue Binance and Coinbase being the most significant.

However, investors appear to have digested this news, with the uncertainty around Bitcoin (and other cryptocurrencies) gradually subsiding.

From a technical perspective, Bitcoin looks poised for even more upside – with price breaking above the crucial 20-day Exponential Moving Average (EMA) on the daily time frame.

This indicator often acts as a proxy for the short-term trend, so the fact that $BTC is now above it is a promising sign for investors.

Moreover, data from CoinMarketCap reveals that $BTC trading volume is up a whopping 74% in the pas

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Author: BeInCrypto Team

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