Bitcoin Prepares To Reach $50K While Ethereum Reclaims $4000

Bitcoin prepares to reach $50K while Ethereum reclaims the $4000 price point and the crypto market continues to recover over the past day so let’s read more in today’s cryptocurrency news.

The past few days were painted in green throughout the crypto market as the majority of the coins charted considerable gains. Bitcoin prepares to reach $50K while Ethereum closed yesterday’s candle above $4K. the Market Watch reports show that the Bitcoin price managed to recover $3K in the past day but the good news doesn’t stop there. The market today is once again painted in green and the crypto is pushing towards most of the psychological and technical resistance at $50,000. BTC trades a little below $49,500 marking a 1.6% increase in the past day and a 2.1% increase in the past week.

It’s also worth noting that the past few days failed to rebalance the total market cap as Bitcoin’s dominance remained unchanged at 40%. ETH is also taking advantage of the broader market recovery throughout the past few days and the cryptocurrency is up by 1% in the past day while closing yesterday candle above $4K reclaiming the level. As seen in the charts, the market is recovering over the past 24 hours, and the data from coinGecko shows that in the past day, the biggest gainer was the SPELL token that increased 17% followed by MIOTA 15%. on the other hand, BCHA lost the most and it is down by 37%. from the top 10 coins, LUNA surged by 15% and XRP surged by 8.2% with the latter now eyeing $1.

As recently reported, Bitcoin’s market confidence drops as the retail sentiment broke a 30-day low which only confirms the fact. Santiment added that the drop in Bitcoin’s market confidence could be actually a good thing because these drops prompt an upward momentum. The number one cryptocurrency was ranging between $46K and $50K even since it gained momentum and dropped to $42,000. Bitcoin was only a step away from the psychological price of $50,000 by hovering near the $49,310 during intraday trading. In the meantime, the holding culture on the BTC market is gaining steam given that the number of addresses that hold more than 10,000 BTC increased to 90.