Bitcoin should see “solid resistance” after cryptos rallied over the UK bank holiday weekend.
Politicians in the US are closer to sealing a deal on the US debt ceiling, which saw Bitcoin climb 4% since Friday to US$27,824.
Ethereum, the second largest coin by market cap, also gained 3.5% since Friday to US$1,903.
Both Bitcoin and Ethereum traded at near three-week highs.
According to Ipek Ozkardeskaya, senior analyst at Swissquote Bank, the end of the US debt ceiling crisis should see solid resistance for Bitcoin into the US$30,000 mark.
“The end of the US debt ceiling saga is bad for liquidity and hawkish Fed expectations and rising US yields are bearish for risk assets,” Ozkardeskaya said.
Among some of the altcoins, XRP added 4% in the last 24 hours to US$0.4993, Cardano gained 0.2% to US$3,808 and Solana was up 0.5% to US$20.84.