The green weekend puts BTC above the $33K price level, marking a 15% increase in five days, currently testing the $34K level as we can see more in our latest Bitcoin news today.
Bitcoin saw an amazing few days after the B-word event where Jack Dorsey, Elon Musk, and Cathie Wood spoke about it. BTC increased by 15% in five days and it seems to be preparing for a test of the $34K price point. This was a turbulent week for the BTC price which didn’t’ seem like it was a good start a few days ago. On Tuesday, the price crashed to around $29,200 and caused nothing but fear and panic on the market but it didn’t take much for the price to reserve. The highly-anticiapted B Word event took place were Jack Dorsey, Elon Musk and Cathie Wood discussed bitcoin.
All of them spoke of BTC fondly and Musk even revealed that he owns ETH, BTC, and some DOGE while saying that Tesla will resume accepting it at some point. This catalyzed a strong recovery rally which is now taking the price of BTC to $34K and at this time, the coin is trading at around $33,700 marking a 15% increase from the Tuesday lows. Over the past 24hours, the green weekend enhanced bitcoin’s price movement and a few other altcoins managed to paint some meaningful gains. ETH for example is abou t3.5% on a daily and took over $2000. ADA is also up by 2.5% while XRP is up by 2.14%.
In total, over the past five days, the altcoins managed to claim a few further market shares as Bitcoin’s dominance with the measure of the share relative to the one of the entire market, dropped by around 1%. in general, this is how the market could look like in the past 24hours. It’s a sea of green today and it is interesting to see if this will continue over the rest of the weekend. In the meantime, some other altcoins continue to paint highs after highs. Axie Infinity’s AXS token managed to score a new high above $47 and it is still over 30% on the day.
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