bitcoin

Market Update – Bitcoin Breaks Above The $40,000 Mark

Analysis
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The largest cryptocurrency in terms of market capitalization has broken above the $40,000 level, where it seems to have found support. Over the last day, the asset has added 2.39% and is currently trading at $40,325.52. While it is $20,000 from the $60,000 level, remaining above the $40,000 mark is good news.

Despite the recent rumors suggesting Apple might want to start develop a cryptocurrency and that PayPal intends to allow its clients to withdraw their cryptocurrencies to external wallets, the crypto market has not reacted with a rally.

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As far as Ethereum is concerned, its price is barely $100 above yesterday’s, registering a 3.69% increased over the last 24 hours.

The total capitalization of the crypto market amounts to $1.753T, approaching the $2T barrier.

The crypto market in general seems to be unable to find enough support to go back to the levels before the recent crash that has seen BTC and ETH plunging from above $60,000 and $4,000, respectively.

Tomorrow is the last the of the workweek. It remains to be seen if the market participants decide to make a change in their behavior in anticipation of the weekend, when retail investors make most trades.

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