Bitcoin rose above $30,000 to start the week as bulls returned to the crypto market on Monday. The news comes as fashion brand Balenciaga announced it is set to accept crypto payments. ETHalso moved higher on this news.
BTCrose to a four-day high earlier in today’s session as the market reacted to news that Balenciaga has decided to begin accepting crypto payments.
Following a bottom of $29,710.18 on Sunday,BTC/USD soared to a peak of $30,590.59 in Monday’s session.
Today’s rally means that bitcoin is moving away from its recent support at $28,800 following slight gains over the past few days.