On Sept. 23, bullish optimism is rising across the cryptocurrency market as prices continue to recover from a week of volatility fueled by regulatory pressure on the cryptocurrency industry, FOMC concerns about Fed rate hikes and monetary policy meetings, as well as concerns that Evergrande's situation will affect global financial markets.
After trading between $43,000 and $44,300 early on Sept. 23, bitcoin ( BTC ) surged above $44,800 in the early afternoon and is now aiming to move to a new level, data from Cointelegraph Markets Pro and TradingView show. The $45,000 resistance flipped as support.
BTC/USDT 4-hour chart Source: TradingView
The timing of bitcoin's price surge is closely tied to Twitter's announcement that users can now tip other users in cryptocurrencies like bitcoin thanks to an integration with Strike, a payments app built on the Lightning Network , can achieve low-cost bitcoin transactions.
Breaking news: Twitter is rolling out Bitcoin Lightning Network tipping on iOS.
— Pomp (@APompliano) September 23, 2021
The development comes amid rising momentum across the cryptocurrency ecosystem, with top altcoin Ethereum (ETH) back above $3,100. The data also showed that the Ethereum reserve balance on major cryptocurrency exchanges has hit an all-time low.
Altcoins rally across the board
As token prices for projects like Terra (LUNA), Avalanche (AVAX) and Cosmos (ATOM) rose and attracted new users due to lower transaction costs and faster processing times, the altcoin market grew Competition is heating up.
Celer (CELR) was the biggest gainer in 24 hours after its price surged 52% to an all-time high of $0.14, while Celo (CELO) jumped 24% to trade at $7.8.
Other notable performances include COTI up 23%, Tezos (XTZ) up 21%, and Origin Trail (TRAC) up 20%.
At present, the market capitalization of the entire cryptocurrency is 1.999 trillion US dollars, and the dominance rate of Bitcoin is 42%.
The SEC confirms unauthorized access to its @SECGov account, triggering investigations alongside Twitter. A fake tweet on Bitcoin ETF approval caused market turbulence, refuted by Chair Gary Gensler. The incident raises concerns about crypto manipulation, prompting inquiries from regulators and Twitter. Despite this, key figures like Elon Musk remain silent, focusing on other unrelated topics.
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