Bitcoin (BTC) is about to break the $60,000 mark! Can the altcoins come along?

Bitcoin (BTC) bulls are still battling trying to break the key resistance near $60,000. Although bitcoin just managed to crawl above this price level for a while, the job is not done yet! How do the altcoins fare in this situation? You can read it in this market update.

Bitcoin (BTC) Continues Battle, Final Breakout Coming?

The fact that bitcoin seems to be able to break the USD 60,000 is already being cheered here and there. The positive boost came after news of the likely approval of the first US bitcoin exchange traded fund (ETF) came out. But at the time of writing, we still see bitcoin trading just below the resistance at a price of $59,930. This after the price has already tested the water above this price zone for a while.

In the past hour, however, the price has dropped a retreat and there is no talk of an official outbreak for the time being. But with the increasing trading volume, it seems very likely that the bulls have put up a good fight in this region. If we leave the $60,000 behind, it’s only 7.5% until the all time high (ATH). All in all, bitcoin is up more than 40% this month alone!

Next week is likely to be interesting. Bitcoin Archive quotes Bloomberg’s James Seffart:

Polygon (MATIC) the biggest top 100 riser, but bitcoin gains ground

With the altcoins, the picture is less green and more volatile. Bitcoin is up 3.6% in value from 24 hours ago. Ethereum (ETH), on the other hand, is just 0.3% in the minus. Binance coin (BNB) also sees red numbers and drops 2%. Cardano (ADA) remains almost flat while solana (SOL) is the fastest riser of the top 10 altcoins with +3%.

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If we zoom out, we see polygon (MATIC) with 14% in the plus, with which the number 20 is worth $1.46 and the hardest risers of the top 100. All in all, the entire market is up 1.2% and all cryptocurrencies together are worth $2.44 trillion. Bitcoin is gaining some ground again due to its better performance. Bitcoin dominance rises by 1% to 46.22%.

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