$25 Billion Added To The Crypto Market With Bitcoin and Altcoins Both Rising
The crypto market has seen a huge increase in price, as this made a lot of traders and investors look more on the positive side of the market singing the bulls are coming.
Bitcoin, for one, saw a strong move above the $6,500 line of resistance, which triggered a five percent decline in the amount of BTC in Bitfinex’s short selling contracts.
As of writing, the leading cryptocurrency is trading at $6,700 on Bitfinex – up 4.6 percent on a 24-hour basis – having hit a 16-day high of $6,745 earlier today.
Even though Bitcoin saw a slight push in its prices, there were also other cryptocurrencies that brought in the attention of many crypto traders. This included altcoins like ADA, XML, XRP, EOS, and TRX.
Market analysis and crypto enthusiasts were trying to find the exact catalyst for the surge in price and market dominance that sparked the strong market rebound movements. However, markets usually move because of multiple factors, that could have happened in the global economy.
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