Bitcoin clips $58K as Dogecoin stalls and adoption news fuels bulls
New allocations from big business come as momentum behind the latest altcoin rally seems to shift away from familiar names. Bitcoin (BTC) touched $58,000 on Thursday as the latest phase of its comeback seemed to come at the expense of altcoins.
Bitcoin claws back lost limelight
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD’s return to battle familiar resistance near old all-time highs on Thursday. The move builds on strength from earlier in the week. As Cointelegraph reported, Wednesday saw $57,000 and 5% daily gains.
As analysts began to note, however, altcoins are facing increasing pressure from a newly invigorated Bitcoin, which just days before had been left in the shade by their performance. Thursday, thus, saw 4.4% growth on BTC/USD, while Binance Coin (BNB) and Dogecoin (DOGE), previously the week’s high flyers, were both flat. Other altcoins did manage to deliver impressive returns and beat Bitcoin on the day, notably Cardano (ADA) and Bitcoin Cash (BCH), which were up 16% and 22%, respectively, at the time of writing.
“Good start of the day: both ETHUSD and BTC bouncing from the expected levels,” popular trader Crypto Ed summarized about the state of the market. The largest cryptocurrency thus again faced final resistance beginning at just under $60,000.
Bank BTC adoption strikes a chord
Bitcoin had benefited from a major United States bank adoption announcement, which was followed by news that the largest e-commerce company in Latin America, MercadoLibre, had added $7.6 million of BTC to its balance sheet.
“As part of our treasury strategy this quarter we purchased $7.8 million in bitcoin, a digital asset that we are disclosing within our indefinite-lived intangible assets,” a filing with U.S. regulator the Securities and Exchange Commission confirmed.
There are now six companies with at least $11.4 million in Bitcoin on their balance sheets, corresponding to at least 8,027 BTC. MicroStrategy, which only entered the market last August, is still by far the largest player with over 91,000 BTC.
Top Cryptocurrencies with Price Predictions
| # | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
| 1 |  BTC |
Bitcoin predictions | 67.6% | 59 | $103 090.04 | 7.54% | 7.84% | $2 040 210 476 450 |  |
|
|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 73.2% | 57 | $3 836.90 | 4.67% | 6.55% | $462 123 587 518 |  |
|
| 3 |  USDT |
Tether predictions | 91.6% | 1 | $1.000611 | -0.01% | -0.02% | $135 773 947 858 |  |
|
| 4 |  XRP |
XRP predictions | 60% | 90 | $2.25 | -11.83% | 53.63% | $128 425 622 061 |  |
|
| 5 |  SOL |
Solana predictions | 70.8% | 62 | $233.16 | -1.99% | -2.99% | $110 833 879 897 |  |
|
| 6 |  BNB |
Binance Coin predictions | 84.8% | 25 | $714.72 | -5.07% | 9.56% | $102 925 874 853 |  |
|
| 7 |  DOGE |
Dogecoin predictions | 61.2% | 77 | $0.438799 | 5.41% | 6.97% | $64 533 538 083 |  |
|
| 8 |  ADA |
Cardano predictions | 58% | 87 | $1.18 | -2.83% | 17.06% | $41 330 413 929 |  |
|
| 9 |  USDC |
USD Coin predictions | 95.2% | 1 | $0.999875 | -0.01% | 0.01% | $40 710 275 845 |  |
|
| 10 |  TRX |
TRON predictions | 76% | 48 | $0.315468 | -19.00% | 57.65% | $27 219 987 446 |  |
|
| 11 |  AVAX |
Avalanche predictions | 62.4% | 86 | $50.93 | -2.17% | 17.89% | $20 846 497 893 |  |
|
| 12 |  SHIB |
SHIBA INU predictions | 72.4% | 51 | $0.000031 | 4.01% | 20.77% | $18 338 952 316 |  |
|
| 13 |  TON |
Toncoin predictions | 65.2% | 78 | $6.75 | -1.91% | 6.74% | $17 203 006 453 |  |
|
| 14 |  DOT |
Polkadot predictions | 57.2% | 91 | $10.25 | 2.52% | 24.55% | $15 631 722 248 |  |
|
| 15 |  LINK |
Chainlink predictions | 57.6% | 88 | $23.58 | -1.83% | 30.47% | $14 783 602 206 |  |
