Here we go again! The crypto market continues to recover on Thursday from the lows of the previous month. The total market cap has risen by over $ 300 billion in the past 72 hours and Bitcoin is fast approaching the landmark $ 40,000 barrier. Guess what?! At the same time, the chances of a continuation of the Altcoin Season 2021 are growing, crosses fingers!
Bitcoin is recovering
On Thursday, the bulls build on the sovereign performance of the previous days. BTC traded at USD 39,498, which corresponds to a daily increase of + 6.3%. After the bears failed several times on the USD 38,000 trend line in the past few hours, this is mutating into an important support area for new attacks. Currently, USD 739.6 billion of the total market capitalization (USD 1.854 trillion) is in BTC investments. Accordingly, the BTC Dominance Index touches the 40% mark again.
Low GAS prices and high expectations!
with regard to the upcoming "London" hard fork, those two things are pushing Ethereum into the forefront these days. At the same time, it uses the slipstream of bitcoin for its own price gains. ETH is trading at USD 2,892, and the leading Altcoin is up 7.4% north in the daily chart. From a bullish perspective, a jump above the USD 3,000 mark could trigger another price explosion. For comparison: Until the previous all-time high (4,357 USD), ETH is currently 33.7% missing.
BNB consolidates position
Binance Coin BNB confirms yesterday's jump to the crypto podium with an uptrend of + 12.4%. After a violent flash crash. BNB is currently trading for a price of USD 429. Among the top 10 cryptocurrencies, only Polkadot (+ 18.6%) can show a better daily trend.
The alternative assets are again in the fast lane after a turbulent May month, but the focus of traders in the coming hours is likely to be on Bitcoin and the tug-of-war for the 40,000 mark.
