As Bitcoin consolidates slightly below its “worst-case scenario” monthly closure target, Ethereum (ETH) reaches new highs, allowing altcoins a chance to shine. After “aggressive” purchasing on Coinbase spurred multi-day highs, Bitcoin (BTC) maintained $61,000 throughout the weekend.
Bitcoin Price Chart – Source: CoinMarketCap
After the traditional markets in the United States opened on Friday, Bitcoin experienced good performance, bringing it closer to its minimum monthly closing objective.
Coinbase, a prominent exchange, was the site of considerable accumulation on the day, according to observers.
Meanwhile, popular trader and analyst Pentoshi reported selling elsewhere, particularly from one whale whose BTC divesting has already reached over 1,000 BTC, each sold in batches of 20-30 BTC on the open market.
He said, “Just goes to demonstrate how liquid this market is now.”
Market players will be watching the weekly and monthly closes on Sunday, with the latter potentially reaching an all-time high. BTC/USD may potentially close above $60,000 for the third week in a row. As the weekend began, though, it was all about cryptocurrencies for many.
Earlier on Friday, Ethereum’s Ether achieved new all-time highs, helping the whole altcoin market value reach new all-time highs of $1.473 trillion. A strong performance was seen elsewhere, with Shiba Inu (SHIB) settling following a week of explosive increases.
At the reporting time, Ethereum is presently trading at a price of around $4323 USD, down -0.47% for the day.
Ethereum Price Chart – Source: CoinMarketCap