Bitcoin Price Back on the Move Upwards As Bulls Take the Reigns
Our last markets update on June 25 was the start of a significantly longer than usual BTC bear market dropping below the sub $2300 territory. Since then the price rebounded back above the $2400 range and formed some consolidation and a triangular formation. A week later on July 3rd bitcoin is showing some bullish momentum as it tried to break the $2600 zone. Currently, the price per BTC is holding a weighted average of $2560 across global exchanges, with approximately a billion dollar’s worth of 24-hour trade volume.
Since bitcoin’s price downturn last week nearly every other cryptocurrency market followed its path. At the moment overall cryptocurrency market capitalizations are just above $100 billion but it dipped lower than that earlier this week. Out of all the crypto-caps, bitcoin is commanding a 41 percent market dominance, which is considerably higher than weeks prior. Asian bitcoin markets are still trading BTC at premium prices throughout a few exchanges, such as South Korea’s Korbit, and China’s BTCC with prices $50-100 higher at the moment.
Continue reading
https://news.bitcoin.com/markets-update-bitcoin-bulls-testing-resistance/