Bitcoin once again reached above $20,000
According to Iran Economist, citing Coin, the digital currency market showed a weak performance in the best part of the week, but it seems that it will end the week with a positive trend because most of the digital currencies are traded in the green zone.
The total market capitalization topped $1 trillion for the first time in more than a week, marking an uptrend in the market and coming after the broader market gained more than five percent in the past 24 hours.
Bitcoin’s market dominance level fell below 39% for the first time in more than two years. However, that hasn’t stopped the digital currency from performing well over the past few days. Bitcoin has gained more than seven percent in the past 24 hours and crossed the psychological level of $20,000. This comes after Bitcoin spent the best part of the week trading around $19,000 per coin.
Bitcoin’s 4-hour chart is bullish with its strong performance over the past 24 hours. Technical indicators suggest that Bitcoin has outperformed the broader crypto market.
The MACD line crossed the positive range and showed that the bulls are regaining control of the market.
The 14-day relative strength index shows a figure of 73, which indicates that if this rally continues, Bitcoin could enter an overbought zone.
At the time of writing, Bitcoin is trading at $20,757 per coin. If the positive movement continues, Bitcoin can cross the resistance level of $21,476, and if there is a long-term rally over the weekend, Bitcoin can move for the resistance level of $22,136.
Of course, the bears may regain control of the market and push Bitcoin below the psychological level of $20,000 over the weekend.
The total value of the global digital currency market is currently estimated at 1.05 trillion dollars, which has increased by 6.08% compared to the previous day. Currently, 38.88% of the total digital currency market is owned by Bitcoin, which has increased by 1.23% in one day.
The total volume of the digital currency market in the last 24 hours is 103.96 billion dollars, which has increased by 43.21%. The total volume in decentralized finance is currently $8.06 billion, which is 7.75% of the total 24-hour cryptocurrency market volume. The volume of all stablecoins is now $97.64 billion, which is 93.91% of the total 24-hour cryptocurrency market volume.
Cryptocurrency price update (up to 07:47 AM ET)
This category contains the price changes of the 10 largest digital currencies in terms of market capitalization.
1- Bitcoin
Price: 21 thousand 289.64 dollars
Price changes in the last 24 hours: 0.16% increase
Price changes in the last week: 9.63% increase
2- Ethereum
Price: 1735.14 dollars
Price changes in the last 24 hours: 0.78% increase
Price changes in the last week: 5.76% increase
3- Tether
Price: $1.00
Price changes in the last 24 hours: 0.00% decrease
Price changes in the last week: 0.03% increase
4- USD coin
Price: $0.9998
Price changes in the last 24 hours: 0.01% decrease
Price changes in the last week: 0.02 percent decrease
5- Binance Coin
Price: $294.21
Price changes in the last 24 hours: 0.26% increase
Price changes in the last week: 4.33% increase
6- Cardano
Price: $0.5231
Price changes in the last 24 hours: 0.80% increase
Price changes in the last week: 8.42% increase
7- Ripple
Price: $0.3574
Price changes in the last 24 hours: 0.57% increase
The price changes of the last week increased by 4.44%
8- Solana
Price: $34.91
Price changes in the last 24 hours: 0.62% increase
Price changes of a recent week: 2.34% increase
9 – Dogecoin
Price: $0.06401
Price changes in the last 24 hours: 0.22% increase
Price changes in the last week: 3.30% increase
10- Polka dot
Price: $7.76
Price changes in the last 24 hours: 0.07% decrease
Price changes in the last week: 4.33% increase