The crypto market begins to turn green this weekend, with the most popular cryptocurrency Bitcoin rising above $ 61.000 for the first time in nearly a month of bleak. Meanwhile, the Ethereum (ETH) platform has set a new record high.
Currently, BTC is trading at $ 60.582, correcting from the high of $ 61.206 reached earlier today. Prices have risen almost 5% in a day and more than 2% in a week.
At the same time, ETH is up 4.5% in one day and is trading at $ 2.158, after setting a new high at $ 2.198 this morning. Prices have risen 1,5% in one week.
BTC's rebound is likely due to increased interest from financial institutions. There have been several reports on the plans by giants in the banking industry - Goldman Sachs and Morgan Stanley - to open the doors to their wealthy clients to Bitcoin.
Besides, selling pressure on Bitcoin has begun to decline as the Long-Term Holder Net Position Change indicator turned green for the first time in five months, suggesting that BTC miners have started hoarding BTC instead. for selling them.
Another reason for the upside is that on April 5, the total cryptocurrency market capitalization surpassed $ 4 trillion - more than the value of the 2 Banks S&P Composite Index.
Earlier, on March 13, Bitcoin hit a new all-time high at $ 3.