Cryptocurrency market update: Market grows by $3 billion and Bitcoin defends $6,000

The cryptocurrency market is pushing the bullish trend over a month since the surge in the first week of April. The market capitalization continues to rise and could soon hit $200 billion for the first time in 2019. There was a significant increase from $185 billion posted on Wednesday to $188 billion at the time of writing.

Among the assets in the green is Bitcoin Cash which has corrected higher according to the data on the intraday charts. Litecoin has been able to hold on to the support at $70.00 while posting a subtle $0.04% gain. The biggest daily gainer is Bitcoin Gold with gains in the access of 4.5% on the day. Most of the other top twenty cryptocurrencies are in the red a press time.

Bitcoin market update

Bitcoin, on the other hand, is the market leader and the main force behind the bullish wave. After breaking above $6,000 level, BTC/USD extended gains towards $6,100 but retraced to the area around $6,000. Meanwhile, the price is trading at $6,049 following a 1.78% rise on the day. Bitcoin bulls are pushing for consolidation above $6,000 while in the short-term the target is on $6,100. As long as the buying interest can remain as it is on the market, we will a correction beyond this level, in turn, bringing $7,000.