2021-04-02 08:09:52

Binance Coin Sets New ATH as Crypto Market Cap Inches Away From $2 Trillion (Market Watch)

Bitcoin touched $60,000 once again but is still unable to overcome the coveted price tag decisively. Some altcoins have registered impressive gains, led by Binance Coin’s 15% surge, which led to a new all-time high for the crypto market cap just shy of $2 trillion.

Bitcoin Touched $60K But No Further

The primary cryptocurrency has flirted with the $60,000 price line for a few days now. On March 31st, it came inches away from overcoming it after an impressive leg up, but to no avail.

Just the opposite, the price slumped by $3,000 in a matter of minutes. However, the bulls regained control once more and pumped BTC to just shy of $60,000.

The situation seemed different a few hours ago when bitcoin surged from roughly $58,500 and even surpassed $60,000 briefly. Nevertheless, the cryptocurrency has retraced once again by several hundred dollars and currently sits around $59,500.

The technical indicators place the $60,000 price level as the first major resistance obstacle in bitcoin’s way up. Should the asset finally overcome it decisively, the following ones are $60,760 and the all-time high of $61,780.

In contrast, the support lines at $59,000, $58,355, and $57,545 could contain a potential price drop.

BTCUSD. Source: TradingView

BNB and Crypto Market Cap at ATHs

While bitcoin has stalled beneath a significant milestone, some altcoins were able to break above theirs. Ethereum led the charge and jumped above $2,000 hours ago, as institutional demand towards the second-largest cryptocurrency has surged in recent weeks.

Binance Coin’s performance is even more impressive. BNB has been on a roll lately (15% up in a day and nearly 50% in a week). As a result, the native crypto of the leading digital asset exchange, Binance, reached a new all-time high of just above $350 (according to data from CoinGecko).

The rest of the top ten coins are somewhat stagnant on a 24-hour scale. Cardano, Polkadot, Litecoin, and Chainlink have marked minor gains, while Ripple and Uniswap are slightly down.

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

The situation with the lower- and mid-cap altcoins is also quite greenish. Helium leads with a 30% surge, followed by Dent (20%), EOS (14%), BitTorrent (14%), Elrond (12%), Maker (11%), Zcash (11%), Synthetix (11%), and Stellar (10%).

Consequently, the cumulative market capitalization of all crypto assets has surged to a new record as well. The metric came inches away from reaching $2 trillion yesterday but is now down to $1.930 trillion.


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Cryptocurrency charts by TradingView.

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