major coins traded in the green on tuesday evening as investors appeared to rekindle their enthusiasm for digital assets what happened the crypto markets kicked off on a hopeful note this tuesday as bitcoin regained its position above the vital 30000mark additionally ethereum showed gains by crossing the 2100mark twice in three days with a brief dip below the threshold before resuming its ascent at the time of writing the global crypto market capitalization stood at 125 trillion down over 151 over the last day us stock market saw a subdued finish as investors sifted through numerous earnings reports and their potential implications for the economy the sp 500 index showed a slight upward movement of 009 with the nasdaq composite settling at 1215341 down a marginal 004 see more best crypto day trading strategies news highlights during a congressional hearing on tuesday sec chairman gary gensler was asked about ethereum and whether or not it should be classified as a security despite repeated questioning gensler did not provide a definitive answer however he has previously stated that he views bitcoin as a commodity like gold or wheat and believes that the majority of other altcoins should be classified as securities which fall under the same category as stocks and bonds analyst notes edward moya senior market analyst at oanda said bitcoin is back above the 30000level as risk appetite returns and optimism grows that new investment is coming back into the cryptoverse bitcoin appears like it might consolidate here but a rally above 31500 could open the door to some momentum trades” moya added “one big positive development for crypto has been the 54 deals that took place in the first quarter which just edged the 53 deals saw in fourth quarter of 2021 if confidence is back to invest in the space that could lead to more steady flows into crypto funds” crypto analyst michael van de poppe suggests that for bitcoin it would be ideal to maintain a price point of above 29500 and then aim to retest the range high at 31000 pseudonymous analyst kaleo said dogecoin is steadily approaching the htf resistance level and there’s a chance we see a meme pump for doge the chart plotted by kaleo shows 028 levels for doge as a magnet but before reaching these levels doge will rebound to 016 read next jim cramer advises against using binance provokes strong reactions from twitter users