Bitcoin is recording a further increase in value and updates the highs of the last two months reaching just under $8,500. An event that for the second consecutive time over the last few days sees the bullish movement correlated with the geopolitical tensions that have erupted since January 3rd and that see a strong jump on the part of Bitcoin which, as a result, is driving the entire sector.
Today Bitcoin achieves an increase of 5% for the second consecutive day. Only Chainlink (LINK) is doing better on a daily basis, rising by 7%. Return of strength also for Tezos (XTZ), which gains 6%, although Tezos’ movement still does not give a clear signal of reversal following the declines that have been characterizing it over the last 10 days.
By contrast, Monero (XMR) loses 1%, although the strong rise of the last few days puts it in the tenth position. Precisely Monero, alongside Dash and Chainlink, is the best performance on a weekly basis, close to a 30% increase.
What is characterizing the last hours is the return of volumes, which after several weeks return to 100 million dollars in 24 hours.
This strength driven by Bitcoin sees its dominance rising to 69.5%, a step from the recent records reached last September at 70% for the first time in two years. This is to the detriment of the rest of the industry, starting with Ethereum, which continues to fall, reaching 7.1%, the lowest level since March 2017. Despite that, Ether is attempting to give reversal signals in the medium to long term. Ripple’s dominance remains stable at 4.3%.
Thanks to these increases, the total capitalization is back to $214 billion, a level not seen since last November.
Bitcoin (BTC) Value
Bitcoin increases its value and, with the rise of these hours, tries to break the downward trendline of the medium-term that connects the decreasing highs since last mid-August. A consolidation above area 8,200-8,300 aims to reach the next level of medium-long term dynamic resistance that passes in the 9,300-9,500 dollars area.
Ethereum (ETH) Value
After violating the long-term bearish trendline by breaking $135, Ethereum requires a consolidation above $145, a level that rejected tonight’s bullish uptrend, one step away from $150. For ETH, it is necessary not to go below $130-135 to give confirmation of the evident break that took place last Sunday.
