Throughout January, the cryptocurrency market added to capitalization and, having shown growth of 34%, closed the month at the value of this indicator of $259 Bln.
The dominance index of the first cryptocurrency has been declining for the second month in a row but is still close to its two-year highs. By the end of the month, in total market capitalization, Bitcoin (BTC) reduced its share by 2.1%. At the same time, the weight of Ethereum (ETH) increased by 0.3%, XRP decreased by 0.25%, and Bitcoin Cash (BCH) increased by 0.7%.
Below is the relevant information for Bitcoin.
Market Cap: $170 222 036 714
Price: $9 354,21
Volume (24h): $30 456 591 253
Change (24h): -0.60%
The data is current at press time.
BTC/USD: Trying to hold the bullish trend
Bitcoin (BTC) has gained bullish momentum with the help of the buyers who tried to test the upper border of the orange resistance zone ($9,630). However, the annual maximum was only updated to the $9,615 level, after which the price immediately returned to the average price range.
The hourly EMA55 kept the pair from a deep pullback, and only at the end of the week did sellers begin pushing the price below the average price level, to the $9,200 support.
If, today, the moving average EMA55 keeps the pair from falling, then buyers will try to break through the upper limit of resistance and set an annual maximum of around $9,800. If sellers sell the price below the hourly EMA55, then the rollback will again stop in the $9,200 support area.
On a bigger time frame, the MA 50 is about to cross the MA 100 which confirms the long-term bullish market. If bulls buyback Bitcoin (BTC) from around the $8,700 level, the next mark will be $10,000, which they could achieve by the end of the current month.
Bitcoin is trading at $9,315 at press time.