The quantitative easing that is taking place in the US, along with the injection of $6 trillion in the financial markets, as well as the funds that the US government is sending through contributions to the population, are all causing an increase in Bitcoin purchases by US retailers.
This is a figure that will have to be confirmed in the coming weeks, but which nevertheless indicates an increase in interest that already last week saw the search for the words Bitcoin and Bitcoin halving mark an increase of over 30%. This shows interest in cryptocurrencies at this particular time.
Prices have slowed the momentum and in recent hours are consolidating close to period highs.
Scrolling through the list of the major capitalized crypto assets, the first red sign, although not very relevant, is the slight descent of Crypto.com Coin (CRO) to 19th place which loses 0.4%.
Among the best of the day continue to stand out Tezos (XTZ) and Chainlink (LINK) with rises that continue to stand out and differentiate them among the best of the big with a +7% for both.
Among the best of the day is Digibyte (DGB), 54th position, which rises by more than 20%. Komodo is close to 10%.
On the opposite side, there are very contained declines. The worst of today, unlike yesterday, is ABBC Coin (ABBC) with a retracement of over 5%.
However, the stabilization of prices sees the week ending with a positive balance. If this were to be confirmed until Sunday, it would be the fifth consecutive week upwards, an event that had not been recorded for a year, since May 2019.
A week that sees a prevalence of positive signs even among the altcoins. Scrolling through the first 30 there are only two negative balances on a weekly basis, that of Bitcoin Cash (BCH) which falls by about 2% from last Friday’s levels, and Maker (MKR), which is much worse, in 28th position, with a slide of about 8%.
Among the best on a weekly basis, there is the rise of Ethereum (ETH) that with yesterday’s strong leap is over 8%. Binance Coin (BNB), Tezos and Chainlink are doing considerably better, with climbs of over 10%.
The trend exploded yesterday also causes a jump in volumes that even today remain high above $110 billion, lower than yesterday but above the average trading of the last week.
This week saw an increase in the volumes recorded on the regulated futures trades of both the CME and Bakkt and the OTC futures on the various trading platforms.
The market cap remains above 200 billion dollars. The dominance of Bitcoin is unchanged at 64%. Ethereum and Ripple also remain unchanged at yesterday’s level.
Bitcoin rises above $7,000 with rises in recent hours over $7,100, important levels for Bitcoin because they are the highs of the last week. The $7,000, in fact, had been abandoned with the drop last Friday.
During the weekend it will be important for Bitcoin to confirm the stability of prices and the stabilization of volumes, which have gone well over 1 billion dollars.
It will also be necessary not to go back under 6,500 in order not to ruin the rally of the last 24 hours.
Ethereum remains close to yesterday’s highs of just over $175. The oscillations of these last few hours show a pause in the rise, but not particularly invasive with profit-taking that are not causing worrying retracements or descents.
For Ethereum, only a descent in the next few days with prices returning below the $150 threshold would become worrying. An upward break of $175 sustained by purchases would project prices to the next level of resistance in the $190 area.