Bitcoin trades above $35,000 as it consolidates near $35,200

On the evening of November 7, Bitcoin again broke above the $35,000 level. At one point the price traded as high as $35,888 (on Binance).

Bitcoin is currently trading near $35,200.

In recent days the asset has repeatedly breached the $35,000 level, but could not stay above it.

In seven days Bitcoin rose by 2.3%, according to CoinGecko. In the top-10 by market capitalization for the period, Cardano (ADA) posted the largest gains — 22.2%. Significant gains were also shown by Toncoin (TON), XRP and Solana (SOL).

Total market capitalization rose to $1.39 trillion. Against the rally in leading altcoins, the dominance index of digital gold fell to 49.8%. At the start of November the indicator had reached two-year highs above 51%.

Earlier, experts noted that large market participants are interested in breaking above the $36,000 level.

According to Rachel Lin, co-founder and CEO of the decentralised derivatives exchange SynFutures, Bitcoin could reach $47,000 by the end of November.