Crypto Currency News

Bitcoin price pulls back after weekend jump

The rest of the crypto market also has a red day

Bitcoin (BTC) defends its latest jump above $ 38,000. The leading cryptocurrency is looking to entrench itself as close to the $ 40K barrier as possible, even after experiencing a slight pullback last night. As of press time, the price of BTC is $ 38,235.

BTC received a significant boost Sunday night, after a rumor broke that Amazon would accept crypto payments on its online trading platform in the coming months. However, the company denied last night that it is possible in the short term.

After breaking above $ 40K, experts suggested that market sentiment was still bearish, with the new peak looking somewhat weak. Ultimately, BTC fell back last night, but the goal now will be to establish a new support that will lead it to strengthen before breaking above that level again.

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According to specialists, the support to be defended by BTC is now at USD 37K. Staying above that figure for a few days will balance operations before a new jump, which could come in the coming months.

What happened with Amazon over the weekend, further raises expectations of what could happen when Tesla returns to accept payments in BTC? Elon Musk, CEO of the company, acknowledged last week that this could happen in the short or medium term.

The rest of the crypto market had a red day. Ether (ETH), the leading altcoin, fell more than 3% and has managed to confirm much of its gains from earlier in the week. At the close of this note, the price of ETH is $ 2,266. Litecoin (LTC) took a similar drop and is trading at $ 133.

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The worst performance of the last 24 hours was for dogecoin (DOGE), which is down 7% and is trading at $ 0.20. Cardano (ADA) does so at USD 1.27 after a 4% decline, while Binance coin (BNB), XRP and bitcoin cash (BCH) fell just over 1% and their price ranges respectively at USD 313, USD 0.64 and USD 492.

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