After dipping to $56,000 yesterday, bitcoin has added $2,000 of value and touched $58,000. Ethereum’s latest ATH at $3,100 and numerous other pumping altcoins helped the crypto market cap gain more than $70 billion in a day to a new record just shy of $2.3 billion.

Bitcoin Taps $58K

After reaching a 2-week high at $58,500 a few days ago, the primary cryptocurrency started to retrace slightly. In the following 48 hours, bitcoin dropped by more than $2,500, resulting in testing $56,000 once more.

As reported yesterday, BTC had troubles at that particular level again. However, the bulls took over at that point and pushed the asset upwards.

As a result, bitcoin added more than $2,000 of value in a matter of hours and reached $58,400. Despite retracing with a few hundred dollars since then, BTC is still about 2% up on a 24-hour scale.

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The technical indicators suggest that the first resistance line in bitcoin’s way up is at $58,355, followed by two rounded-number ones at $59,000 and the old nemesis $60,000. Alternatively, bitcoin could rely on the support levels at $56,950, $56,400, and $55,400 if it retraces once again.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

ETH’s Latest ATH Comes at $3,100

When it comes down to the alternative coins, Ethereum has been stealing the shows for several consecutive days. The second-largest crypto marked multiple new records, leading to breaking another milestone hours ago by tapping $3,000 for the first time.

However, ETH wasn’t satisfied with just reaching a round-number and added more than $100 again for another record at over $3,100.

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Binance Coin (2.5%), Ripple (1.5%), Cardano (1%), Polkadot (3%), Litecoin (1.3%), Chainlink (1%), and Dogecoin (0.5%) are also in the green. Uniswap is the most substantial gainer, with an 11% pump to over $44.

Cryptocurrency Market Overview. Source: Quantify Crypto
Cryptocurrency Market Overview. Source: Quantify Crypto

From the lower- and mid-cap altcoins, Venus leads the way with a 26% surge to over $125. Maker (19%), Ontology (12%), Waves (12%), Polygon (10%), Helium (10%), Theta Fuel (10%), Terra (10%), and Neo (10%) follow suit.

Ultimately, the cumulative market capitalization expanded by $70 billion in a day and $250 billion in four days to a new record of approximately $2.280 billion, according to CoinMarketCap.

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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.


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