Bitcoin's recent surge above $12,000 has sparked a renewed sense of optimism among investors. The break above the 200-day moving average has triggered a wave of buying, pushing the cryptocurrency's market capitalization to a new 2020 high. Meanwhile, altcoins are also gaining traction, with Ethereum, Litecoin, and Bitcoin Cash all posting significant gains. As the market consolidates, it's clear that sentiment is shifting in favor of the bulls.

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The break above the 200-day MA is a significant bullish signal. Expect continued buying pressure as investors pile into the market, with altcoins likely to continue their upward momentum.