The attached overview from Coin360 shows the performance of the crypto market over the past seven days. The total crypto market cap hovered at $1,906 billion over the past week. Thereby, Bitcoin’s market dominance consolidated around 40%. The market dominance of Ethereum (ETH) rose slightly to 19.5%. The market cap of the number 2 coin decreased slightly to $371 billion.
It is relatively quiet on crypto market. However, the number of crypto currencies is rising steadily to 18,888 at present. This is thinning the pool, although BTC and ETH together account for 59.5% of the market. This means that the remaining 18,000 coins divide the remaining market.
Bitcoin has held the number one position for years and it does not look like it will be taken over any time soon.
Ethereum follows with a street-length deficit of over $400 billion, which will not be caught up easily.
Bitcoin has been consolidating around $41,000 for quite some time. It seems a matter of time before the upward trend is started towards the all time high of $69,000, which was reached in November last year.
The next resistance that can be found is at $48,000. It is important, however, that the bottoms around $33,000 from March and February, respectively, remain intact.
On the positive side, the decline since November was limited to the above support level. Thus, a higher bottom was formed compared to $30,000 of last July. Whether this is sufficient to launch a new attack on the all time high will now have to be seen.
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