[ad_1]
Major coins were up on Sunday night as the global cryptocurrency market cap rose 0.54% to $ 2.14 trillion.
What happened: The apex cryptocurrency, Bitcoin (CRYPTO: BTC), rose 1.78% to $ 47,994.68 on a 24-hour basis. Over the past seven days, BTC has risen 9.9%.
Ethereum (CRYPTO: ETH), traded 1.31% higher over 24 hours at $ 3,391.91. Over a seven-day period, ETH increased 8.81%.
On the theme of Shiba Inu Dogecoin (CRYPTO: DOGE) rose 1.01% to $ 0.22 on a 24-hour basis. Over the week, DOGE gained 6.25%.
The best 24 hour winner on Sunday was Infinite Axis (AXS), which jumped 23.43% to $ 136.02 during the period. Over a seven-day period, AXS climbed 115.72%.
The blockchain gaming project coin rose 22.51% and 23.32% against BTC and ETH, respectively.
AXS hit a record high of $ 139.80 on Sunday. Since the start of the year, the coin has climbed 22,851.63%.
Why is this important: Former Goldman Sachs hedge fund executive on Sunday Raoul Pal analyzed the chart of Bitcoin and said it was forming a huge falling wedge reminiscent of the one that formed from 2017 to 2020.
See also: For the first time, institutional traders prefer Grayscale’s Ethereum trust over Bitcoin trust
“Who knows if the wedge breaks on the first attempt, but a pattern of consolidation of this magnitude usually leads to a very, very powerful bullish move,” Pal said on Twitter.
On Friday, it was reported that BTC’s rise over the weekend came as $ 270 million in short positions were liquidated in just an hour.
This Amsterdam-based cryptocurrency trader analyst Michel van de Poppe remark: “Goodbye bears.
On Sunday, van de Poppe said that overall bull season is back and it’s only a matter of time before BTC hits $ 50,000.
Attractive price movements of #Bitcoins here.
Took liquidity above recent high over the weekend which is a bit sketchy.
Maybe see a slight reversal here to take liquidity down.
Overall -> bull season is back, a matter of time up to $ 50,000. pic.twitter.com/lU3ayxk6EY
– Michaël van de Poppe (@CryptoMichNL) October 3, 2021
Meanwhile, the President of El Salvador, Here to watch, said 3 million Salvadorans are now using the country’s BTC wallet – Chivo.
3 million Salvadorans are already using @chivowallet.#Bitcoin
-Nayib Bukele (@nayibbukele) October 3, 2021
El Salvador has a population of almost 6.5 million, which means that half of the country is now using the wallet.
From a regulatory standpoint, the United States Security and Trade Commission extended the decision deadline for approving four Bitcoin ETFs by 45 days, citing the need for more time to assess applications.
Read more : EXCLUSIVE: Andrew Campbell of Axie Infinity on His Non-Binary and LGBTQ Acceptance and Breaking the ‘Broken Power Dynamics Cycle’ with Blockchain
Photo: Courtesy of Axie Infinity
[ad_2]
Source link