Major cryptocurrencies saw a sharp bounce as the global crypto market cap expanded by 1.3% over the past day.

The Bitcoin price has appreciated more than 1.5% over the last 24 hours and is trading above the $29,900 price level. With experts becoming increasingly bullish on a spot Bitcoin ETF approval, investors are gearing up for a strong surge in volatility that can kick-start a new BTC bull cycle.

Meme coins are also stealing the spotlight during the current bull rally, with both Shiba Inu and Pepe skyrocketing by over 8% and 13%, respectively.

Newly-launched presale meme tokens are also showing bullish momentum, with Shibie Coin emerging as one of the top gainers, having raised over $230,000 as it aims to become the next Shiba Inu.

Bitcoin Bounces Back As Market Recovers, Will This Be The Start Of A New Bull Run?

After a quick retest of the $28.6K price level, Bitcoin displayed a significant recovery that saw it change hands near the $29,900 mark. After frustrating investors over the past few weeks with its unusual lack of volatility, BTC has surged by 1.5% over the last 24 hours.

With $30,000 in sight, investors believe that the token will likely see a strong bullish continuation, an assessment supported by its technical analysis. TradingView, a technical analysis platform, gives a Strong Buy signal to the token in the daily time frame.

BTC is currently outperforming most of the important moving average indicators in that time frame and will look to breach the 50-Day Simple Moving Average at $29.9K.

Expert trader @CryptoJelleNL is extremely bullish and believes that $32K may be on the cards after the Moving Average Convergence/Divergence indicator has turned green. He also predicts that a full-blown BTC bull run may be on the horizon as the token has locked in the 3-day golden cross, a signal that is always followed by a new Bitcoin all-time high.

Michael van de Poppe, the founder of