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Ethereum (ETH) Reclaims $3K Level as Bitcoin (BTC) Eyes $52K (Weekend Watch)

Summary:
Bitcoin’s price went on the offensive once again after yesterday’s retracements and came inches away from tapping ,000. Most altcoins are also slightly in the green, with ETH surging past ,000 and SOL maintaining above 0. BTC to Challenge K? After a few consecutive weeks of price increases, the primary cryptocurrency had a quieter seven-day period this time. The only notable price surge came on Tuesday when the bulls drove the asset to a new multi-year peak of precisely ,000. However, a sharp rejection followed that pushed the cryptocurrency south by more than two grand. It tried to recover most of the losses but ultimately fell below ,000 on a few occasions. The next couple of days were calmer, but BTC still struggled to post any substantial gains. Just

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Bitcoin’s price went on the offensive once again after yesterday’s retracements and came inches away from tapping $52,000.

Most altcoins are also slightly in the green, with ETH surging past $3,000 and SOL maintaining above $100.

BTC to Challenge $52K?

After a few consecutive weeks of price increases, the primary cryptocurrency had a quieter seven-day period this time. The only notable price surge came on Tuesday when the bulls drove the asset to a new multi-year peak of precisely $53,000.

However, a sharp rejection followed that pushed the cryptocurrency south by more than two grand. It tried to recover most of the losses but ultimately fell below $51,000 on a few occasions.

The next couple of days were calmer, but BTC still struggled to post any substantial gains. Just the opposite, the cryptocurrency fell to a multi-day low of $50,600 yesterday.

The landscape has changed since then, though. Bitcoin began another leg-up that resulted in gaining over a grand in hours and jumping to nearly $52,000. As of now, BTC has been unable to conquer that line even though it is more than 1% up on the day.

Its market capitalization has gone above $1 trillion once again, but its dominance over the altcoins is down to 48.6%.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

ETH Reclaims $3K

Perhaps driven by the hype around the potential approval of spot Ethereum ETFs, the second-largest digital currency, has been on the rise in the past few weeks. This led to the inevitable challenge of the $3,000 level. The asset jumped above it a few times lately but was always pushed back down. The past 24 hours saw another increase that has driven ETH to just over $3,000, following a 2.5% increase.

Solana has remained above a round-numbered milestone, as it stands at north of $100 now. BNB, XRP, ADA, AVAX, and LINK are also slightly in the green.

UNI has dumped the most on a daily scale (-16%), but it is still up by double digits since Friday after this proposition.

Cryptocurrency Market Overview. Source: Quantify Crypto
Cryptocurrency Market Overview. Source: Quantify Crypto

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