The Crypto Market Exploded Today With a Number of Key Developments That Are Believed to Be Behind the Recent Soaring Prices

Most cryptocurrencies have skyrocketed to the point where they now trade in the green on a 24-hour and 7-day basis, despite recent corrections.

Most cryptocurrencies soared on Monday, continuing a rally that began last week with strength varying based on recent developments and new highs being reached by some coins.

Bitcoin price climbed on Monday, continuing a recent rally that saw the coin’s volatility rise to new highs as its price retested the $62k level.

The world’s leading cryptocurrency rose by 2.30% in the last 24 hours, and by 3.58% in the last seven days. Recent data shows that the coin’s volatility rose to new highs in the past week, and that it now sits at levels that are higher than those seen during Bitcoin’s all-time high in March.

As a result, some traders believe that this could be the catalyst that Bitcoin price needs in order to finally break out of its consolidation phase, and begin a rally that will take it to new all-time highs.

However, in order to start the rally, Bitcoin price must stay above $61k and retest the $62k level successfully — something it failed to do since August 9. Even now, its price sits at $60,936, below its daily high of $61,819, which it reached in an attempt to breach the $62k mark.

Fantom leads rally with 17% surge in 24 hours

Fantom (FTM) price saw a major surge in the last 24 hours, with its value increasing by around 17%, making it one of the leaders of the recent rally. Experts believe that the project is eyeing further gains, although additional rise will depend on the behavior of the wider market.

After seeing its initial surge, FTM price moved sideways with very small fluctuations, while the project’s 24-hour trading volume surged by over 120%, to $208 million at the time of writing. The project’s price also climbed above its upper Bollinger band, which might indicate that FTM is overbought and that a correction could follow.

However, with its Relative Strength Index (RSI) value sitting at

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