The total market cap seems to be totally on fire bringing a fresh ATH record at almost $2.4 Trillion as Bitcoin surpassed the resistance line of $55K and Ethereum set another ATH at $3,560.
It has been a long time since the last time we saw Bitcoin trading around $58,000. Last two weeks, the King of Cryptos was struggling to remain above $55K having multiple price drops. However, Bitcoin brought the solution on Thursday morning as the currency recovered some ground by adding $3,000 of value. Ethereum would not miss the party and followed BTC to north breaking another ATH.
Bitcoin returns above $58K
On May 3rd, Bitcoin jumped above $59,000 convincing everybody that the coin is ready to return back at $60K zone. The happiness didn’t last for too long as in less than 48 hours the asset plunged below $54K losing almost $6,000 of value.
Bulls responded immediately by taking the situation into their own hands. The primary cryptocurrency retraced $55K before it moves further north at $58,000. Nevertheless, BTC could not maintain the price above $58K and plunged at $57K where it currently trades.
Analysts say that if BTC wants to reclaim the coveted $60K once again, the currency should first jump above $58,500.
Altcoins mostly in green
The alternative coins mimicked Bitcoin’s price movements and most of them are currently on the “green” side. All eyes are on Ethereum as the world’s second-largest cryptocurrency has broken many consecutive records. This time, ETH jumped above $3,560 which is marked as its latest record.
Cardano has marked an increase of 13% in the last 24 hours and was closer than ever from breaking a new ATH above $1.55.
Ripple, Polkadot and Binance Coin are also in green having increases of 15%, 7% and 3%, respectively.
We should not forget to mention that the total Market Cap has broken above $2.4 Trillion for the first time in history.
Bitcoin Cash has won today’s title of the best performer having an increase of 23%, leading the price at $1,336.
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