Cryptocurrency market update: Bullish pilgrimage begins as market adds $7 billion


  • The intraday charts show a market that is correcting upwards.
  • Bitcoin market dominance hit 58%; highest levels in 2019.

It is a bulls’ field day in the cryptocurrency market as green shoots sprout across the board. The intraday charts show a market that is correcting upwards ahead of the weekend session. In the market update yesterday, we saw the market add more than $3 billion. Similarly, the bullish surge across the market has seen the market capitalization increase to $193 billion after adding cool $7 billion.

Bitcoin price overview

Bitcoin is the market leader and is the main force that is pulling the entire market into a bullish momentum. Bitcoin’s dominance on the market continues to increase and is currently at 58%; the highest level it has reached in 2019. This means that altcoins are lagging behind Bitcoin’s surge.

The market capitalization stands at $112 billion according to the data on CoinMarketCap. The 24-hour trading volume is $18 billion at press time while trading at $5,277. Bitcoin as predicted yesterday broke past $6,100 resistance to trade above $6,300 before forming a high at $6,335.39. The price is still in the green with gains of 2.26% on the day.

Other major cryptocurrencies like Ethereum and Ripple are also trending upwards at $1.57% and 0.95% respectively. Bitcoin Cash has added 1.39% to its value on the day while Litecoin is leading with gains around 3.5%. The rest of the top twenty cryptos are in the green with gains between 0.5% and 4%.

 

 

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