At the beginning of this week, bitcoin began to suffer losses. Along with the largest digital currency, almost all altcoins have lost their positions. BTC last Wednesday fell in price to $29,600 - this is the lowest value since January 2021.
The strengthening resumed in the evening of the same day. As The Into The Black team noted, the rebound was the result of increased support from investors who bought bitcoin around $30,000.
One more positive factor was the online conference The B Word, dedicated to the crypto industry. Its participants, including Elon Musk, recognized the great potential of bitcoin, which ultimately returned positive sentiment to the market.
BTC/USDT chart. Betconix cryptocurrency exchange
The BTC exchange rate on Sunday, July 25, strengthened above $ 34,500. Some experts have no doubt that by this evening we will overcome the psychological mark of $ 35,000.
Ether (ETH) and Binance Coin (BNB) are also trading in the black. These coins jumped to $2,175 and $303, respectively.
The best performance of the top ten cryptocurrencies was demonstrated by Dogecoin (DOGE). The price of this altcoin increased by another 2.5% to $0.199 per day. The capitalization of the crypto market has increased to 1.412 trillion today, and the bitcoin dominance index is 46.2%.
According to the Viewbase platform, at the end of the week, the outflow of bitcoin and ether from trading platforms increased. The formation of a shortage of these cryptocurrencies will inevitably lead to their rise in price, observers predict.
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