Barely a week after recording new highs for the second consecutive month, Bitcoin made giant strides towards breaking the USD 6,000 resistance point in Asian trading hours today as it dragged the rest of the crypto market up towards a total capitalization of USD 190 billion.
Currently trading at USD 5,950, and recording over 55.8% dominance, Bitcoin is now flexing its muscles as traders ignore the ongoing scandals at Tether. Ether is the biggest gainer among the Top 30, recording an 11% jump to settle right now at USD 177.50.
Of the same Top 30 cryptocurrency by market capitalization, only Binance Coin (BNB), Basic Attention Token (BAT) and Tether (USDT) lost ground during the day.
The signs are now getting warmer for a significant rally, which could pave the way for a spring rally for crypto, should Bitcoin push past USD 6,000 and find a way to hold support above that point.
As with the more recent spikes and surges in Bitcoin price, this was somewhat unexpected, at least not so soon after recording a new 2019 high just four days ago. Given the ongoing litigation with Bitfinex, and the Trump administration’s seemingly antagonistic stance towards China, hinting at potential trade tariffs, it appears that the Bitcoin bulls no longer care about the bad news surrounding the industry and politics.
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