Cryptocurrency market sees relief rally as clouds clear
Cryptocurrencies rallied across the board on Monday as the US dollar rallied and US stocks climbed to record highs as investors are likely divided the outlook for one after President Biden's impending proposal to max out capital gains taxes Congress seemed to cheer -income Americans. The positive outlook is also supported by the expectation that the Federal Reserve will remain accommodative with the world's largest economy rapidly recovering to pre-pandemic levels. Investors will be watching corporate earnings and US economic data this week to see if actual results warrant high valuations in the private sector. Risky assets were positive for the past 24 hours after Asian bargain hunters increased crypto trading activity significantly on Monday morning. Bitcoin (BTC) is consolidating near $ 54,000 after breaking initial resistance levels and appears to be building momentum towards $ 55,000, which may pave the way for even higher levels this week. There is a possibility of ...