Crypto Markets Hold Yesterday’s Gains, Bitcoin Near $6,300 Resistance Level

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Crypto markets are seeing mixed signals today, June 1, after major growth yesterday, June 30. Leading cryptocurrency Bitcoin (BTC) is holding a psychological price point around $6,300 today, the low point of yesterday’s price surge, which reached $6,450.

Most of the top ten coins by market cap are in the red, but showing only slight losses over the past 24 hours, down less than 1 percent. Only three of the top ten are in the green, showing more substantial gains between 3 and 5 percent over the past 24 hours to press time.

Market

Market visualization from Coin360

Bitcoin is currently trading at $6,340, down 0.43 percent over the 24 hours period to press time.

BTC

Bitcoin price chart. Source: Cointelegraph Bitcoin Price Index

Top altcoin Ethereum (ETH) is down just 0.06 percent, mostly holding yesterday’s gains to trade around $451.

ETH

Ethereum price chart. Source: Cointelegraph Ethereum Price Index

Total market capitalization of all cryptocurrencies is currently at $256.6 bln at press time, down about $3 billion from yesterday’s high at almost $260 bln. Total market cap is up almost 9% from last week’s market dip Sunday, June 24, when it reached a low of $235.3 bln.

Total market

Total market capitalization chart. Source: Coinmarketcap

Among the top gainers, IOTA (MIOTA) is seeing the most gains on the day, up almost 7 percent to trade around $1.07. Cardano (ADA) is seeing the second most growth, up almost 5 percent and trading at $0.14. Stellar (XLM) is close behind, with about 4 percent gains over the past 24 hours, currently trading at almost $0.20.

Yesterday’s market rebound brought Bitcoin up from a week of lows, the top coin dipping below $6,000 mark twice, the first two times that threshold was broken since Oct. 2017.

On June 28, Robert Sluymer of Fundstrat Global Advisors predicted that Bitcoin needs to rally through the $6,300-6,400 resistance level to reverse its existing downtrend.

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