After a gentle increase during the weekend, Bitcoin
He returned to $ 109,000 on Monday in the slow trade since the traditional markets of the United States were closed in the observance of the Fallen Day.
The upper cryptocurrency has still risen 1.7% in the last 24 hours and only one breath of the maximum of all time it obtained last week.
Looking Coindesk 20, an index of the 20 main digital currencies for market capitalization, with the exception of Stablecoins, Memecoins and Exchange Coins, the great winner of the day is the Uniswap decentralized exchange
which saw its token 6.6%. The tokens for Chainlink and Avalanche also gained 3.3% and 3.4% respectively.
The profits occurred overnight, stimulated by the Trump administration’s temporary walk on EU tariffs. Trump said Sunday that the implementation of 50% of tariffs on EU goods, which on Friday had called to enter into force on June 1 and caused a sale of actions in risk assets, including cryptocurrencies, would be delayed until July 9. European actions, initially stirred by the threat, recovered in the news.
Short -term gain taking is intensified
While the cryptographic market returns to losses in the fall of the weekend, BTC has probably entered an broken phase as merchants digest the rapid, almost 50% extends from the minimum of April, Bitfinex analysts said in a Monday report.
The increase in profits by short -term holders could also limit the short -term increase in Bitcoin: this cohort of investors obtained $ 11.4 billion in cumulative profits in the last 30 days, compared to $ 1.2 billion in the previous period of 30 days, the report said.
“At these levels, the risk of taking the earnings exceeds the new demand inputs,” Bitfinex analysts wrote. “Unless it is a corresponding increase in the new capital that enters the market to absorb this offer, prices can begin to stop or even in decline.
“The next few days will be key to measure whether the fall to $ 106,000 has established the minimums of rank or a larger restart is on the cards, according to the report. If a deeper setback materializes, the key level to see is that the holder in the short term is the cost of around $ 95,000, the average price of this group bought the asset, the authors said.
The strong entries for the US Bitcoin ETF. UU., They suggested that Bitcoin is a total of $ 5.3 billion in May, the low volatility and the lack of back that will probably resume its upward trend in the third quarter of the year after a pause, analysts argued.
Read more: Bitcoin recovers $ 110K after weekend sale; ADA, Doge leads the increase in cryptographic
