has recovered above the $41,000 level with the second biggest crypto reclaiming the $3,000 price mark. Analysts offer three reasons for the bullish reversals of these top-tier cryptocurrencies.Bitcoin has recently been closely correlated with Nasdaq Composite Index and Dow Jones of the stock market. Recently Nasdaq demonstrated a 2 percent rise, which was likely to contribute to Bitcoin’s rise above $41,400, according to the Chinese cryptocurrency journalist and blogger Colin Wu.
Bitcoin broke through $41,600, a 24h increase of 12%, and Ethereum broke through $3,000. Only a few of the top 100 crypto have gained more than BTC and ETH. The Nasdaq index, which has been closely associated with cryptocurrencies recently, rose more than 2%.Santiment on-chain data vendor has also mentioned the rise in the equities market as a reason for the Bitcoin price surge.
As the price started going up on Friday, positive sentiment from crypto traders versus negative one spiked to the highest level since the end of October 2021.
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