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Over the past weekend, the broader crypto market seems to have regained its seasonal strength. In the early hours of Monday (Asian trading hours), BTC sprung past the $47k handle after posting a 5.5% gain over the past 10 hours to attain a three-month high price. With that, the number one cryptocurrency by market cap is now a mere breath away from the the $47.7 level that it started 2021 (a good year for BTC and the crypto market in general) off with. The next major resistance for BTC lies in the $49.2k zone. A clear breakout above said resistance zone could open the doors to aggressive gains above the $50k psychological barrier. On the flip side, if BTC fails to stay atop the $47k handle, this may result in a retracement to find some support near the $46k region. Some analysts attribute the crypto market's rallying momentum to rising institutional demand and the broader rally in global risk-on assets. They also expect this trend to continue, at least in the near-term.