Bitcoin is back on the rise, after staying below the $30,000 key level for four days.
According to Arabiya Net, Bitcoin rose for the third day in a row, exceeding $30,000. It jumped 4.4% to $30441.43.
While Bitcoin's dominance in the cryptocurrency market has been on the rise lately, some altcoins have been outperforming, with Avalanche up 6.6% and Cardano up 8.6. %.
Bitcoin has been in a tight spot in recent months, with rate hikes from the Federal Reserve and other central banks to stem rising inflation.
The collapse of the Terra cryptocurrency ecosystem has also hurt sentiment in the digital asset market.
Concerns intensified among market watchers over the weekend as the benchmark relationship with the Nasdaq 100 index declined as technology stocks rose, according to a Bloomberg analysis.
This is the kind of decoupling nobody wants, said Anthony Trenchev, co-founder and managing partner of crypto lender Nexo.
Bitcoin's trend has changed marginally over the past two weeks, ending with a price drop late last week.
Bears will continue to gain the upper hand in the crypto market unless the token recovers the $30,200 level, according to the pattern (a break below $28,000 could see a return to $25,000).
The descending triangle pattern also suggests that any pullback below $25,400, could lead to a 2017 low of just under $20,000 for Bitcoin.
