Bitcoin (BTC) striking $50,000 for the first fourth dimension in a month on Oct. 5 equally a triumphant render to form connected.

BTC/USD 1-hr candle chart (Bitstamp). Source: TradingView

BTC's toll hits one-month high

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD adding some other 5% Tuesday to briefly return to the psychologically significant price point.

The latest success of Bitcoin's "Uptober," bears were swept aside as resistance levels tumbled.

The largest cryptocurrency had benefited from macro incertitude, compounded past a mass social media outage impacting Facebook, Instagram and others.

For Cointelegraph correspondent Michaël van de Poppe, a wait at previous toll behavior suggested upside was the more likely conclusion for current movements, with a dip likewise limited in scope.

"Given the conclusion from historical cost action, information technology seems more than likely that Bitcoin will exist breaking upwards towards anything around $l,000 or maybe even the recent high, and then comes down towards $49,000 before we continue to rally dorsum upwards," he said in his latest YouTube update.

He added that an "platonic" bounce zone for a retest would be around $47,500, but any lower would not be advantageous for bulls.

Altcoins wearisome off the marking

Bitcoin, meanwhile, led major altcoins at the time of writing, these beingness slower to react.

Related: Bitcoin beats stocks, bolt to best performing asset of 2022

Just Dogecoin (DOGE) achieved greater gains over the past 24 hours, these at x% versus BTC's 5% cheers once once again to veiled publicity from Elon Musk.

The largest altcoin, Ether (ETH), by contrast, was 2% college at just over $iii,400.

ETH/USD ane-60 minutes candle chart (Bitstamp). Source: TradingView