Bitcoin has shown signs of recovery for a few days consecutively and even reached as high as $39,500 on Thursday. However, it retraced sharply and dropped by $4,000 to a daily low of $35,500, which was triggered by a bearish tweet by Elon Musk, sparking fears that Tesla might sell its Bitcoin holdings. Following a short recovery to $38,000, it dipped more than 3% as Weibo suspended crypto influencer accounts on Sunday. Bitcoin is now trading at $36,000, and the total market capitalisation dominance is currently sitting at 41.92% at the time of writing.
Crypto.com Weekly Market Update (Week 22, 31/05/2021 - 06/06/2021)
Crypto.com Weekly Market Update (Week 22…
Crypto.com Weekly Market Update (Week 22, 31/05/2021 - 06/06/2021)
Bitcoin has shown signs of recovery for a few days consecutively and even reached as high as $39,500 on Thursday. However, it retraced sharply and dropped by $4,000 to a daily low of $35,500, which was triggered by a bearish tweet by Elon Musk, sparking fears that Tesla might sell its Bitcoin holdings. Following a short recovery to $38,000, it dipped more than 3% as Weibo suspended crypto influencer accounts on Sunday. Bitcoin is now trading at $36,000, and the total market capitalisation dominance is currently sitting at 41.92% at the time of writing.