Crypto Market Cap Recovers $300B In Three Days as Bitcoin Touched $39,000 (Market Watch)

Crypto Market Cap Recovers $300B In Three Days as Bitcoin Touched $39,000 (Market Watch)

News
June 3, 2021 by J.D. Smith
17
After trading in a range of around $37,000 for a few days, bitcoin finally made a mode and jumped to a six-day high of about $39,000. Most altcoins followed suit, with ETH rising above $2,800 and BNB surging past $400. Bitcoin Touched $39K The past few days were somewhat unexciting for the primary cryptocurrency, which

After trading in a range of around $37,000 for a few days, bitcoin finally made a mode and jumped to a six-day high of about $39,000. Most altcoins followed suit, with ETH rising above $2,800 and BNB surging past $400.

Bitcoin Touched $39K

The past few days were somewhat unexciting for the primary cryptocurrency, which stood in a range between $36,000 and $37,500. These levels came after the weekend dump when the asset fell below $33,500.

However, bitcoin finally made a more decisive move yesterday by breaking above $37,000. In the following hours, the bulls kept increasing their efforts and pushed BTC to around $39,000. This became the cryptocurrency’s highest price tag since May 28th.

Despite retracing with a few hundred dollars since this high, bitcoin’s market capitalization has overcome the coveted $700 billion line.

According to the technical indicators, BTC’s next resistance is the round-numbered nemesis at $40,000, followed by $40,765 and $41,200. Alternatively, the support levels at $38,000, $35,100, and $34,760 could assist in case the bears take back control.

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BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

DOGE Above $0.4; BNB North of $400

Most of the altcoin market, which also suffered during the weekend, has mimicked bitcoin’s gains. After dipping below $2,100 on Sunday, Ethereum has added more than $700 of value since then. As a result, the second-largest cryptocurrency currently stands above $2,800.

Binance Coin also fell hard during the weekend. In fact, BNB plunged below $300, but its recovery is even more impressive. As of now, the token stands well above $400.

Dogecoin is another notable performer since yesterday following a listing on Coinbase Pro. DOGE is up by 10% on a 24-hour scale alone to north of $0.4.

Polkadot has surged the most from the top ten, following a 15% increase. Consequently, DOT is close to $30. Ripple, Cardano, Uniswap, Chainlink, Bitcoin Cash, ICP, and Litecoin are also in the green from the larger-cap alts.

Cryptocurrency Market Overview. Source: Quantify Crypto
Cryptocurrency Market Overview. Source: Quantify Crypto

Even more gains come from OKB (27%), Fantom (24%), Kusama (20%), Curve Dao Token (20%), Cosmos (18%), Solana (16%), IOTA (16%), Algorand (15%), Waves (13%), NEO (12%), and Avalanche (12%).

The cumulative market capitalization of all crypto assets has added $300 billion since Sunday and is well above $1.7 trillion.

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Cryptocurrency charts by TradingView.