After a brief pullback to $10,100 bulls stepped in to provide renewed buying pressure. At the time of writing the top-ranked cryptocurrency on CoinMarketCap has broken above the long-term descending trendline ($10,250) which has been in place since Bitcoin reached a $19,800 all-time high in 2018.
Crypto market weekly price chart. Source: Coin360
Altcoins also began to rally in response to Bitcoin moving back to $10,000 and many tokens in the top-20 rallied 3 to 5%.
Ether (ETH), the largest altcoin, advanced 6.64% to $250.68. Stellar Lumens (XLM) rallied 6.81%, and NEO gained 11.75%.
The total cryptocurrency market capitalization is over $284.2 billion at press time, with Bitcoin’s share continuing to grow at 65.9%.
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