Crypto Markets Rebound Significantly After a Week of Losses
Crypto markets see substantial growth after Bitcoin suffered two dips below $6,000 this week.
Saturday, June 30: crypto markets are seeing a significant rebound after this week’s decline. All of the top ten cryptocurrencies by market capitalization are in the green with Cardano (ADA) being the biggest winner - up 18.6 percent over the past 24 hours, according to Coinmarketcap.
Market visualization from Coin360
Bitcoin is up around 8 percent over the 24 hour period, trading at $6,391 at press time.
Bitcoin price chart. Source: Cointelegraph Bitcoin Price Index
Ethereum price chart. Source: Cointelegraph Ethereum Price Index
The total market cap has seen substantial growth in 24 hours to press time, up from yesterday’s $232 billion to $258 billion today.
Total market capitalization chart. Source: Coinmarketcap
Cardano is up the most among the top ten coins by market cap. The cryptocurrency is up 18.6 percent in 24 hours to press time, trading at around $0.137 at press time, according to Coinmarketcap. Bitcoin Cash (BCH) boasts the second largest increase, up 14 percent and trading around $755.
On June 28, Robert Sluymer of Fundstrat Global Advisors predicted that Bitcoin must rally through the $6,300-6,400 resistance level to reverse the existing downtrend.
“...We have a critical stop level at the $5,800-6000… with a resistance level of $6,300-6400. If it can rally through that, I think there’s a chance Bitcoin could start to turn.”