Weary cryptocurrency traders awoke to the sight of green in the markets on May 2, as bulls managed to bid the price of Bitcoin (BTC) above the crucial “line in the sand” resistance at $37,500, while Ether (ETH) briefly traded at $2,800.
The rising price of both BTC and ETH has been accompanied by double-digit gains in multiple altcoins, leading some to speculate that the market is currently experiencing an oversold bounce following the recent downturn.