The last day of the week has turned out to be bearish for the cryptocurrency market. All coins from the top 10 list are in the red zone.
Meanwhile, the dominance rate of Bitcoin (BTC) has increased over the last few days and is now at 62.1%.
The relevant data for Bitcoin is looking the following way:
Market Cap: $1,117,288,647,373
Volume (24h): $49,572,866,971
Change (24h): -0.22%
The data is relevant at press time.
BTC/USD: Can bulls hold the $60,000 mark?
Even though the rate of Bitcoin (BTC) is almost unchanged since yesterday, the price change over the past week is +18%.
On the hourly chart, Bitcoin (BTC) is about to restest the MA 50 that is located in the area around $59,000.
Bulls might show strength there as the selling trading volume remains low.
On the bigger time frame, the drop may be even more profound to the nearest mirror level at $58,100 if bulls fail to save the support around $59,000.
From the long-term perspective, the crucial level is the support at $57,500. There are high chances of seeing a bounceback there due to a high level of focused liquidity.
Bitcoin is trading at $59,900 at press time.