Bitcoin stakes a claim on $48,000 as new support lines are tested

BITCOIN is testing support lines above $48,000 this evening following a push up from $47,700 earlier today.

The flagship cryptocurrency is continuing an impressive weekend run of form that began at $45,000 on Friday.

As it prods at $48,300, Bitcoin has shown some robust upward movement of about 12% in a week.

Remarkably, the total volume of all Bitcoin transactions over the last 24 hours hasn't altered in any way, and remains at $20.5 billion.

Tonight's price is the fourth-highest peak reached by Bitcoin, as it closes in on the third-highest amount of $49,102 which it recently reached on January 11.

There's still some way to go, however, if the top two totals of $61,006 set on November 6 2021, and the April 14 2021 all-time high of $64,899, are to be eclipsed.

Elsewhere, the upward push by Bitcoin is seeing many other large cap digital assets being moved along with the momentum.

Ethereum is looking strong above $2,500 having lifted by almost 10% in seven days, and Cardano is up more than eight per cent across the week at $0.54.

Some altcoins to keep a close eye on over the next 24 hours would be NEAR Protocol which has just begun an upward curve that has already seen it move north by more than five per cent this evening, and also the long-forgotten asset Onyxcoin which has, out of nowhere, risen dramatically by more than 20% since yesterday.