$20 Billion Added To The Crypto Market Cap As Bitcoin Reclaims $19K And ETH $600 (Weekend Watch)

Fibo Quantum

As another weekend goes on, Bitcoin presents low-volatility around the $19,000 mark. However, since yesterday, the primary cryptocurrency had been trading above the benchmark level, reaching $19,346 (Bitstamp) as the current high so far in the weekend.

Simultaneously, the total market capitalization has increased by $20 billion over the past day.

Bitcoin Holds Above $19,000

Following the highly volatile week bitcoin experienced that resulted in consecutive all-time highs on some cryptocurrency exchanges, the asset calmed and retraced slightly beneath $19,000.

The inability to break into uncharted territory prompted BTC to dabble around with that level for a few days. As reported yesterday, though, bitcoin bounced off from the latest drop beneath $19,000. Since then, the asset even initiated a leg up towards $19,400 but has retraced and currently sits at $19,200.

From a technical perspective, BTC’s first major resistance lies at $19.700. Should the primary cryptocurrency overcome it, the next one would be $19,921, followed by $20,350 and $20,970.

On the other hand, the most significant support levels are $18,900, $18,600, and $18,270.

BTCUSD. Source: TradingView

$20 Billion Added To The Market Cap As Altcoins Recover

When it comes down to high volatility, the alternative coins went through a roller-coaster in the past ten days. From yearly highs for tokens like Ethereum and Ripple to massive double-digit dives during the Thanksgiving massacre last week.

They began gradually recovering in the following days but briefly dipped in value yesterday. On a 24-hour scale, though, most altcoins are slightly in the green. Ethereum is back to $600 after a 2% increase. Ripple trades above $0.60 following a 4% rise.

Chainlink and Polkadot have increased north of $13 and $5, respectively. However, Binance Coin is struggling beneath $30, while ADA is still south of $0.16.

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

The lower- and mid-cap altcoins display untypical stagnation and an absence of double-digit increases. Yearn.Finance (YFI), Kusama, and Reserve Rights are the most impressive gainers with 5% increases.

Nexo (4%), THORChain (4%), and Elrond (4%) follow. Overall, the cryptocurrency market cap has gained $20 billion from yesterday’s dip from $550 billion to $570 billion.

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Cryptocurrency charts by TradingView.