Crypto Market Cap Breaks ATH as Bitcoin Price Targets $60K (Market Watch)

Crypto Market Cap Breaks ATH as Bitcoin Price Targets $60K (Market Watch)

Following more positive news from the traditional financial world, this time PayPal, bitcoin spiked again to nearly $60,000. Most altcoins followed along, including Binance Coin. A double-digit price pump for BNB has resulted in breaking above $300.

BTC Eyes $60K

The primary cryptocurrency saw some minor gains on Saturday but erased all progress on Sunday, as previously reported. Consequently, it entered the new working week at about $55,000. However, news from Visa that it would settle some transactions with USDC pumped the asset’s price, and BTC jumped above $58,000.

After a brief retracement to about $57,000, more positive news emerged. This time, PayPal said that US customers would be able to pay with BTC on millions of merchants. The cryptocurrency reacted immediately again, added over $2,000 of value, and spiked above $59,000.

Bitcoin didn’t stop just there and continued upwards in the past few minutes to its current position of $59,700, thus coming just inches away from breaking above $60,000 again.

The technical indicators say that BTC’s major resistance obstacles on its way towards uncharted territory are situated at $60,000, $60,800, and the current all-time high $61,780.

In case BTC is to retrace, the first support levels that could assist are $58,000, $57,500, and $56,500.

BTCUSD. Source: TradingView

New ATH for Crypto Market Cap; BNB Above $300

Most of the larger-cap altcoins have remained relatively stagnant on a 24-hour scale. Ethereum, Polkadot, Litecoin, and THETA have registered minor gains to $1,840, $34, $197, and $13, respectively.

On the other hand, Cardano, Ripple, Uniswap, and Chainlink are slightly in the red. However, Binance Coin is the most significant gainer with a 12% surge. As a result, BNB has spiked above $300 for the first time since early March.

Cryptocurrency Market Overview. Source: Quantify Crypto
Cryptocurrency Market Overview. Source: Quantify Crypto

Further gains are evident from the lower- and mid-cap alts. BitTorrent leads the pack with a 42% surge to $0.0054. Nervos Network (33%), Filecoin (25%), Holo (22%), 0x (16%), Flow (12%), Pundi X (11%), and PancakeSwap (11%) are next.

Ultimately, the cumulative market capitalization of all crypto assets has marked a new all-time high after surpassing the mid-March record of $1.850 trillion. The new ATH of $1.880 trillion came after adding nearly $300 billion in six days.

Crypto Market Cap. Source: CoinMarketCap
Crypto Market Cap. Source: CoinMarketCap

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Cryptocurrency charts by TradingView.

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