The biggest crypto currency in terms of market value increased 3.1 per cent to $28,442 on Tuesday, its first session higher in three

Bitcoin moved toward the high end of its recent range of nearly $28,000, while Dogecoin continued to take advantage from Elon Musk’s flirtation with the meme token.

The biggest crypto currency in terms of market value increased 3.1 per cent to $28,442 on Tuesday, its first session higher in three. Bitcoin has traded at nearly $28,000 since breaking that mark in the past month for the first time since June. Ether increased nearly 5 per cent, while Polkadot rose 4.4 per cent and Binance Coin jumped 3.2 per cent.

Dogecoin has climbed nearly 30 per cent after Twitter users noted Monday that the home button of their Twitter page turned into the dog meme after which the crypto currency is named. Dogecoin increased to 10.3 cents.

Bitcoin had a good monthly and quarterly close Sunday night, so continued its macro-trend already before Doge and is now trading in a range whilst forming support on the back of a more bullish sentiment overall in crypto and risk assets, according to Garry Krugljakow, founder of 0VIX, an open-source DeFi protocol for lending and borrowing. Doge has certainly driven the narrative during the last 24 hours.

Krugljakow further stated: It remains to be seen if Musk is serious about using $DOGE for payments or he is just doing his usual thing.

After dipping last year, Bitcoin’s bounce back this year made it the best-performing asset in Q1, even as an extending US regulatory clampdown and the collapse of some crypto-related banks have weakened some investors’ zest. Ether, with a 56 per cent YTD gain, has also posted an eye-catching showing.

That bitcoin and ether can deliver those accomplishments with such resilient headwinds is a testimony to the tailwinds being even more resilient, as per Noelle Acheson.