back BTC Soars Above $27k as LINK Leads Market Recovery


Bitcoin is back above $27,300 for the first time since August 31, while Chainlink (LINK) is leading the top 20 cryptocurrencies by market cap as its price bounces to above $6.80. Ethereum has also hit highs above $1,670, with the mega caps gaining ahead of an important week for risk asset markets.

Can Bitcoin Price Break Higher?

The benchmark cryptocurrency has exceeded $27k, potentially leading to a retest of a critical level and the invalidation of a double-top pattern. If the price moves higher, a rally to $28,200 could open up for a retest of the psychological $30k level. On the other hand, rejection could mean a retest of the $25k mark.

LINK Price Up

Chainlink has been the biggest gainer of the day, jumping nearly double-digits as intraday price reached highs of $6.81 across major crypto exchanges. Crypto analyst Michael van de Poppe sees the likely trajectory of LINK/USD adding to its weekly gains of more than 15% with a push towards $8.00.

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