After slowly raising on weekends, Bitcoin
He returned to $ 109,000 in slow trade on Monday while the traditional American markets remained closed to the observation of the Memorial Day.
The upper cryptocurrency is still up 1.7% in the last 24 hours and only one test of the top of all time, it marked last week.
By looking at the Coindesk 20 – an index of the 20 main digital parts by market capitalization, with the exception of stablescoins, the same and exchange parts – the big winner of the day is a decentralized uniswap exchange
who saw his token increase by 6.6%. The tokens for Chainlink and Avalanche also won 3.3% and 3.4% respectively.
The gains took place overnight, stimulated by the temporary march of the Trump administration on EU prices. Trump said on Sunday that the implementation of prices of 50% on EU property – which he called on Friday to enter into force on June 1 and to have been selling risk assets, including cryptocurrencies – would be delayed until July 9. European actions, initially shaken by the threat, bounced back to the news.
Short -term holder intensifies the benefit
While the cryptography market has retraced some of the losses of the weekend, BTC has probably entered an agitated phase while merchants digest rapidly, almost 50% among the lows in April, Bitfinex analysts said in a Monday report.
The increase in profit by short -term holders could also cap the short -term increase in Bitcoin: this cohort of investors achieved $ 11.4 billion in cumulative profits in the last 30 days, against $ 1.2 billion in the previous 30 -day period, the report said.
“At these levels, the risk emerges that taking advantage exceeds new demand entries,” wrote the Bitfinex analysts. “Unless there is a corresponding increase in new capital on the market to absorb this offer, prices can start stalling or even trace.
“The next few days will be essential to assess whether the drop to $ 106,000 has defined the lower range or a greater reset is in the cards, depending on the report. If a deeper decline materializes, the key level to monitor is the cost of the short -term holder around $ 95,000, the average price that this group has bought the assets, noted the authors.
Strong entries to locate the FNB Bitcoin – totaling $ 5.3 billion in May so far -, low volatility and a lack of foam suggest that bitcoin will probably resume its upward trend in the third quarter of the year after a break, analysts have argued.
Read more: Bitcoin finds $ 110,000 after the sale of the weekend; ADA, DOGE has plunged the slight increase in cryptographic majors
