Bitcoin (BTC) and Ether (ETH) Market Update: June 27, 2019
The total crypto market cap added $31 billion to its value since June 24, 2019, and moved up to $364.8 billion. The top ten cryptocurrencies are mostly in the red for the last 24 hours with EOS (EOS) and Bitcoin SV (BSV) being the worst performers with losses of eight and nine percent respectively. At the time of writing, bitcoin (BTC) is trading at $12,640 on the Bitstamp daily chart, while ether (ETH) stands at $331, and Ripple’s XRP hovers around $0.457.
Bitcoin opened the week at $10,836 after gaining 19 percent during the previous seven-day period. It formed 11 green candles for the last 12 sessions, successfully leading the crypto market to new 2019 highs.
On June 24, 2019, the coin moved up to $11,040 after breaking the $11,000 mark for the first time since March 2018.
It extended gains on June 25, 2019, by climbing to $11,750. There was little resistance in front of the most popular cryptocurrency and bears were still unable to break the uptrend and initiate a correction. The BTC/USD pair added 6.5 percent to its value and extended its dominance to more than 60 percent compared to the rest of the market.
On June 26, 2019, it skyrocketed to $13,907 and despite bulls managing to push prices up to $13,876 during intraday trading, bitcoin closed at $12,919 with 9.8 percent of gains.
The coin entered a short-term correction in the early hours of June 27, trading at $12,660 at the time of writing.
The Ethereum token bulls were hoping for a run similar to that of Bitcoin, but the so-called “alt season” has yet to come into full effect. The ETH/USD pair closed the previous week at $306 with a 13.8 percent boost for the period.
The only way was up for ETH after breaking above the $270 mark on June 21, 2019, so it started the new week with a green candle to $311 on June 24, 2019.
On June 25, 2019, it extended winnings to $317, still the increase was relatively small compared to that of bitcoin, which also enjoyed the highest volume in terms of 24-hour trading.
Ether moved above $350 for the first time since August 2018 on June 26, 2019, peaking at $363 during the day session. It was not an easy task for buyers to hold this level though as they were already running out of steam. At the end of the day, $335 or 6.3 percent higher was the best they could do.
In the early hours of June 27, 2019, ETH is trading at $334, nearly flat compared to the previous session.