Obviously, the era of boring bitcoin transactions is over. This cryptocurrency gained more than 10% popularity last week, surpassing the coveted $ 10,000 mark for the first time since June.
Bitcoin price reappears: over $ 10,000
Bitcoin's price moves have been pretty boring in the past few weeks. After all, cryptocurrencies have been in a very tight range for most of July.
Seeing the Bollinger Bands contract very strongly usually indicates that a swing is about to occur in any direction. However, despite the fact that most cryptocurrencies are bearish due to market indecision and low trading volume, BTC has turned into bulls.
Bitcoin has risen more than 10% over the past six days, and things are peaking today as the leading cryptocurrency finally surpassed the coveted $ 10,000 mark. On Binance, it peaked at $ 10,111 and then dropped slightly to its current trading price of approximately $ 9,995.
Bitcoin advantages are recovering
Another thing to consider is Bitcoin's share of the total market value. Just before that, the index was at an annual low.
However, in the short period of time that Bitcoin's price skyrocketed, the Advantage Index also rose by almost 1%. This means that the major cryptocurrencies have managed to recover some of the reasons for the loss of altcoins.
Speaking of altcoins, they've all suffered in the last hour.