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Bitcoin Neared $70K, Ethereum Reclaims $2.1K Level: Market Watch

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Bitcoin’s dull weekend ended with an impressive surge that drove the asset from just over $67,000 to a multi-day peak of $69,600, where it faced some resistance.

Most larger-cap alts are also in the red, including ETH, which has reclaimed the $2,100 resistance, and ADA, which has pumped by over 5%.

BTC Neared $70K

The primary cryptocurrency went through a highly volatile previous business week after each new development in the war against Iran, including a drop to a monthly low at $65,000 and a surge to $69,200, only to be rejected and driven south to under $66,000 at the end of it.

Then came the weekend, which was expected to be less volatile as it was Easter in the US. The contradicting comments and reports from Trump on the war continued, as the POTUS first gave a 48-hour deadline to Iran to reopen the Strait of Hormuz by Monday, then extended it, then threatened again to attack power plants and bridges.

Another new report emerged this morning claiming that both parties have engaged in negotiations, but the chances of an actual deal were “slim.” Nevertheless, BTC jumped to $69,600 after it went out, oil prices followed suit with a surge above $110 per barrel, and Wall Street’s futures recovered from the early losses.

For now, BTC’s market cap has climbed to $1.380 trillion, while its dominance over the alts is up to 56.5% on CG.

BTCUSD April 6. Source: TradingView
BTCUSD April 6. Source: TradingView

ETH Above $2.1K

Ethereum is among the top-performing larger-cap altcoins today, surging by over 4% to reclaim $2,100. XRP has neared $1.35 after a 3.5% increase, while ADA has jumped by nearly 6% daily to overcome the $0.25 resistance. SOL, HYPE, and LINK are also in the green, while AVAX has risen by 7% to $9.4.

In contrast, RAIN has plummeted by nearly 10% in a rare red altcoin example today. Nevertheless, the total crypto market cap has added over $60 billion in a day and is up to $2.450 trillion on CG.

Cryptocurrency Market Overview April 6. Source: QuantifyCrypto
Cryptocurrency Market Overview April 6. Source: QuantifyCrypto

 

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