Market Update – BTC Retakes $37,000

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The largest cryptocurrency on the market in terms of capitalization had a busy weekend in which bears dragged the asset down to $31,734.14. This happened on Sunday evening, in the context of a general fall in the market.

However, buyers have taken Bitcoin back to $37,000 today, where it stands now – $37,424.66 (+11.60%). Nevertheless, yesterday’s decline as well as the other recent falls (Wednesday, 19) can been reflected on the weekly dynamics of the asset, which has fallen 15.6%.

As can be seen on the chart above, the 5 largest cryptocurrencies are in green, enjoying healthy gains. The situation is very different from last Friday’s, where the same chart showed negative dynamics in all cryptos.

There has not been any really big news coming from an important actor today that could have had an impact on the market. While Elon Musk has once again tweeted about Dogecoin (DOGE), the price of the crypto has not seen any significant increase, as it has risen in line with the rest of the market.

It remains to be seen whether the current rally continues, or if negative news affecting the sector might hamper Bitcoin’s way to retake $60,000 again. Yes, we know the asset still has to cross the $40,000 and $50,000 barriers, but if it kept the current growth rate, it would not be too long before BTC revisits those levels.