Bitcoin Is Steadily Reaching New Local Highs
By: Alexander Kuptsikevich | Published: Apr 10, 2026
Market Overview
The cryptocurrency market has seen significant growth, with the total market capitalization rising to $2.45 trillion. Bitcoin (BTC) has briefly surpassed the $73,000 mark, indicating a crucial breakout phase for the market. The overall market has consolidated above the 50-day moving average, suggesting a potential bullish trend.
Bitcoin Performance
Bitcoin is currently trading just below $72,000 after reaching local highs. This upward movement follows a period of consolidation and indicates a shift in market sentiment. However, for a sustained bullish trend, Bitcoin must break through the 61.8% Fibonacci retracement level from its earlier decline.
Market Leaders and Laggards
In the past 24 hours, notable performers in the crypto market include:
- Dash: +17.45%
- Zcash: +16.61%
- Theta Network: +10.97%
Conversely, the underperformers were:
- VeChain: -1.18%
- Hedera: -0.99%
- OFFICIAL TRUMP: -0.88%
Future Predictions
Standard Chartered has forecasted that Bitcoin may dip to $50,000 in the near term but could recover to $100,000 by the end of the year, with a long-term target of $500,000 by 2030. Additionally, Bhutan is reportedly preparing to sell $22.7 million worth of Bitcoin, while Morgan Stanley has launched a spot Bitcoin ETF aimed at high-net-worth clients.
Technological Developments
The TON network has successfully implemented the Catchain 2.0 update, which has increased its throughput tenfold, allowing for faster transaction processing. This technological advancement is expected to enhance the overall efficiency of the network.