In the past few days, the price of the digital currency market has been falling because the crypto economy is currently valued at $1.53 trillion. On Sunday, the volume of cryptocurrency transactions increased a bit, and the percentage of some cryptocurrency assets has increased considerably in the past seven days.
Cryptocurrency market prices consolidate as traders wait to be bearish or bullish
- Last week, supporters of cryptocurrency witnessed the entire cryptocurrency economy cut by billions of dollars, and many people are curious about the next development direction. Bitcoin (BTC) recovered above $40,000 a few days ago, but then plummeted below the $34,000 area on Saturday.
- At the time of publication, BTC was trading at $36,098 per unit, and the exchange rate against the U.S. dollar rose by more than 3% this week. Despite a 4% increase last week, the 30-day percentage shows that the price of Bitcoin still fell by 35%.
- On Sunday, May 30, 2021, the top five trading pairs for Bitcoin (BTC) include Tether (USDT) which accounted for 57% of all transactions, the U.S. dollar accounted for 14% of all transactions, BUSD 5.7%, Japanese Yen 4.85% and Euro It is 4.82%.
- Ethereum (ETH), the second largest market, traded at $2,439 per unit on Sunday. ETH has still fallen by 10% in the past 30 days, but weekly statistics show that ETH has risen by 16%.
- Among the top ten crypto assets in terms of market capitalization, Cardano (ADA) is now the largest increase in 24 hours. The price of ADA was $1.68 per unit, and it rose by more than 13% on Sunday morning (ET).
- Fxstreet analyst Akash Girimath stated that the price of Bitcoin (BTC) is currently “hovering between whale accumulation and the plight of miners. The outlook for Girimath is quite grim and bearish, but BTC still has a chance to overcome the losses Girimath said.
- Girimas said: “It may sound grim.” “Bitcoin’s price still has room to rise, at least until $42,000. If BTC produces a decisive daily candlestick and the closing price is above the resistance level of $42,000, then The bearish view put forward by the head and shoulders technical pattern will face invalidation.”
- At the same time, despite heavy losses, Bitcoin (BTC) has regained market dominance this week. At the time of launch, BTC’s dominance was 43.1%, while ETH held about 18% on Sunday.
- The biggest beneficiary on Sunday was today’s kicktoken (KICK) which rose by 132%, while the stakenet (XSN) rose by 91% in the past 24 hours.
- The biggest losers this weekend include the Cube (AUTO) token, which has fallen by 60% today, and Agrolo (DLT) has also fallen by 60% this morning.
What do you think of the cryptocurrency market price this weekend? Do you envision a bullish or persistent bearish downturn? Let us know your thoughts on this topic in the comments section below.
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