The cryptocurrency market’s capitalization metric has been trading within a relatively narrow upward channel for the past 10 weeks. This indicates that bullish momentum has remained intact despite recently failing to break above the $1.7-trillion market cap resistance.
In December, Bitcoin’s price made 20-month highs above $44,000, and Ether’s upswing was stropped at $2,400. Some analysts argue that the excessive demand for leveraged longs (buying) will trigger a correction, but is that really the case?
