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.
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.
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.
# | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
1 | BTC | Bitcoin predictions | 80.8% | 26 | $61 150.74 | -2.59% | -12.60% | $1 203 779 495 411 | ||
---|---|---|---|---|---|---|---|---|---|---|
2 | ETH | Ethereum predictions | 80.4% | 32 | $3 005.46 | -1.76% | -14.56% | $360 871 200 835 | ||
3 | USDT | Tether predictions | 93.2% | 1 | $0.999899 | -0.05% | -0.01% | $108 721 469 091 | ||
4 | BNB | Binance Coin predictions | 86% | 20 | $535.07 | -0.06% | -11.64% | $80 003 421 505 | ||
5 | SOL | Solana predictions | 79.6% | 42 | $135.24 | 2.29% | -20.78% | $60 413 589 128 | ||
6 | USDC | USD Coin predictions | 92.4% | 2 | $0.999916 | -0.02% | -0.01% | $32 513 574 205 | ||
7 | XRP | XRP predictions | 76.8% | 37 | $0.499905 | 1.63% | -19.19% | $27 554 685 933 | ||
8 | DOGE | Dogecoin predictions | 67.6% | 60 | $0.148741 | -2.93% | -25.84% | $21 407 764 832 | ||
9 | TON | Toncoin predictions | 70% | 53 | $6.12 | 0.74% | -8.18% | $21 229 122 864 | ||
10 | ADA | Cardano predictions | 73.2% | 48 | $0.448032 | -0.28% | -22.96% | $15 958 275 109 | ||
11 | SHIB | SHIBA INU predictions | 57.6% | 85 | $0.000022 | -0.35% | -20.65% | $13 055 952 422 | ||
12 | AVAX | Avalanche predictions | 65.2% | 66 | $34.34 | 1.04% | -27.36% | $12 976 966 886 | ||
13 | STETH | Lido stETH predictions | 91.2% | 1 | $2 941.39 | -0.40% | -3.32% | $10 258 752 564 | ||
14 | WTRX | Wrapped TRON predictions | 89.2% | 13 | $0.110396 | -0.18% | -7.06% | $9 672 842 725 | ||
15 | TRX | TRON predictions | 87.2% | 13 | $0.110389 | -0.31% | -7.05% | $9 672 240 269 |
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