Bitcoin (BTC) saved $61,000 over the weekend after heavy buying on Coinbase led to multi-day highs.
BTC/USD 1-hour candlestick chart (bit stamp). Source: TradingView
Coinbase BTC Buyer Activation
Data from Cointelegraph Markets Pro and TradingView showed that the BTC/USD exchange rate fell sharply after a short competition of $63,000.
On Friday, after the opening of the traditional US markets, there were strong results, which helped Bitcoin approach its minimum target monthly close.
According to analysts, the large platform Coinbase was a place for significant savings that day.
Meanwhile, famous trader and analyst Pentoshi noted sales elsewhere, notably from one whale, which has now sold well over 1,000 BTC, each of which is being sold on the open market in batches of 20-30 BTC.
He summed it up by saying, “It just shows how resilient this market is now.”
Sunday’s weekly and monthly closes will be of interest to market participants, as the latter see potential records. BTC/USD may also close its third consecutive week above $60,000.
Altcoin market cap reaches all-time high
However, for many, it was at the start of the weekend about altcoins.
On the topic: Altcoin review: Dogecoin, Shiba Inu, and Memes pull dog sleds for mass adoption
Ethereum (ETH) reached new highs on Friday, helping the altcoin’s total market cap reach new highs of $1.473 trillion.
Weekly altcoin market price candlestick chart. Source: TradingView
The strong performance remained in other directions, with Shiba Inu (SHIB) stabilizing after a strong increase over the past week.