Cryptocurrency markets are slightly experiencing some downward price variations following the recent upward trend that occurred in the past few days. In the last 24, Bitcoin (BTC) broke the $9,000 resistance but failed to keep up the bullish trend also, and Ethereum (ETH) which went above $600 had to retrace back below $600, from data gathered from Binance.
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After the weekly high, BTC retraced and is now trading around $8,700/$8800 which is just around 2 percent over a 24hour period. This little rise gave BTC a dominance of about 39.9% from yesterday according to CoinMarketCap data.
ETH which also tested $624 is down around at the moment trading around $585/600.
According to report from coinmarketcap.com, the top 20 coins listed on CoinMarketCap are a mix of red and green, with NEM coin and OMG in the most dip, recording a decline of more than 6 percent over the last 24hour period, while BNB coin has seen the most increase with a gain of over 10%
According to report from cointelegraph, the market’s recent gains, despite some price waffling today, could be attributed to Tom Lee of Fundstrat’s hypothesis that the market would bounce back after a crypto sell off leading up to US tax day on April 17.
The rising interest in crypto by Wall Street - shown by several execs leaving their traditional financial jobs to join the crypto sphere, as well as by institutions like the Rockefeller’s Venrock partnering with Coinfund and the Soros Management Fund reportedly getting into crypto trading - could also have triggered the market uptick.
