Market Wrap: Bitcoin Stuck Below $60K; Cardano’s Sixfold 1Q Gains Led CoinDesk 20
$60K is a key psychological level that has also proven a formidable stopping point during this year’s powerful rally.
The price gain came amid new signs of growing mainstream adoption of bitcoin and other cryptocurrencies.
The oldest cryptocurrency is looking at a price support level around $54,000, with resistance around $60,000.
Bitcoin’s struggle to retest a key resistance level at $60,000 has “dampened” market sentiment, said one trader.
Bitcoin traders are increasing their bullish bets in futures markets – and taking more risk.
As altcoins rise, bitcoin’s market dominance is down to around 57% from near 73% at the beginning of the year.