After facing resistance at the $47,000 mark, Bitcoin has managed to stay around $46,000 over the weekend. It has started a fresh week at a high low. BTC’s price is bearish and has gained from the losses which had pulled it down in January. At the time of writing this article, the prices of the top two cryptocurrencies were as follows, as per the CoinMarketCap:
Bitcoin (BTC): $46,135
Up/Down: Lost -0.03% in the last 24-hours
Ethereum (ETH): $3,505
Up/Down: Gained +1.15% in the last 24-hours
The weekend was pretty high for the crypto market as market capitalization for Bitcoin had soared past $47,300 but dropped below $46,000. And it the last 24-hours, it has managed to regain slightly and is now holding onto the $46,000 mark. Ethereum, following in Bitcoin’s footsteps, also dipped slightly. It is now at an all-time high, trading at $3,505. There wasn’t much trading in the weekend, and weekends are usually slow as trading is inactive.
Analysts highlighted that the late weekend surge slipped slightly from the major equity market’s performance. Overall, Bitcoin has managed to start a fresh week set at a strong higher local high. Its likely to reach the $48,000 (crucial mark) during the week.
Meanwhile, the altcoins have a mixed reaction to Bitcoin’s slight gains. Major altcoins like Solana, Terra LUNA, Avalanche, and Polkadot are in the red. These coins have lost 0.46 – 1.30% in the last 24-hours. Meme coins – Dogecoin is up by 3.38% and Shiba Inu has gained 1.24% in the last 24-hours.