Crypto markets are bouncing off a weekend slump, with a pump this morning just hours before the week’s close gives the bulls some hope.
After falling to just over $ 30,000 on Saturday night (Sydney time), Bitcoin rose 6.1 percent within an hour on Monday morning, rising from $ 32,530 at 7:34 a.m. AEST to $ 34,515 at 8:35 a.m.
The week ended 85 minutes later at 10 a.m. AEST / midnight UTC.
Very nice weekly graduation at #Bitcoin. Very, very nice, actually. pic.twitter.com/8Frmn4N7TU
– Tyler (@TylerDurden) June 28, 2021
Yesterday (when BTC was trading for around $ 33,250) influential crypto trader Rekt Capital tweeted that it was important for Bitcoin to rebound above ~ $ 34,000 “and the higher low before the week’s close into a new one To convert support so that this bullish momentum is preserved in the early stages ”.
By midday in Sydney, Bitcoin was trading at $ 34,440, up 4.4 percent from Sunday and just $ 400 off Friday.
“We are still trading on the resistance without a decisive upward trend,” tweeted another Bitcoin analyst, who is based on Bitcoin charts. “Please be aware of this. If we can go up decisively and break 35k in volume, then I would feel more bullish than bearish. That was a very nice climb! Let’s see what happens next. “
Among other things, Ethereum was trading at $ 1,971, up 4.7 percent, and all but a handful of the top 100 altcoins were in the green.
Internet computer was the biggest winner, rising 50 percent to $ 46.50 in terms of price action after a terrible few weeks.
Bitcoin Cash ABC, XDC network and connection had also posted double-digit growth.
amp and When were the biggest losers, both losing a little under four percent after a strong run recently.
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