On May 30 and 31, Bitcoin breached the $32,000 level for the first time in three weeks. At the time of writing, BTC was trading around $31,570.
Previously, the level above $32,000 had been reached on May 11. In the last seven days, the asset rose by 6.6% (CoinGecko).
In the final days of May, Ethereum breached $2,000, but has since retraced to around $1,930. In the last 24 hours, the second-largest cryptocurrency by market cap fell 1.8%.
BTC dominance — 44.2%, ETH — 17.2%. Compared with historical maximum at $69,000, Bitcoin has fallen by more than 54%. Ethereum has fallen about 60% from its ATH.
As of writing, among the top-10 by market cap, the green are BNB (+0.3%), XRP (+0.2%) and Polkadot (+0.6%).
Earlier, Bitcoin’s price fell for the first time in nine consecutive weeks. Prior to this, the streak had not exceeded seven weeks.
At the end of May, Glassnode analysts found that many hodlers took advantage of BTC’s price decline below $30,000 to build up positions.
Earlier, JPMorgan analysts put Bitcoin’s fair value at в $38 000.
Guggenheim Partners’ Chief Investment Officer Скотт Майнерд and Bitcoin critic Питер Шифф warned that the price could drop to $8,000.
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