Bitcoin sees third weekly close above $ 60,000 as Ethereum drives a new record in altcoin market cap


Bitcoin (BTC) held $ 61,000 through the weekend after “aggressive” purchases on Coinbase caused multi-day highs.

BTC / USD 1-hour candle chart (Bitstamp). Source: TradingView

Coinbase BTC buyers level up

Data from Cointelegraph Markets Pro and TradingView showed that BTC / USD cooled off overnight after briefly challenging $ 63,000.

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There was strong performance on Friday after traditional U.S. markets opened, which helped bring Bitcoin close to its minimum monthly closing target.

As analysts noted, the large Coinbase exchange was the place for strong accumulation that day.

Popular trader and analyst Pentoshi has since discovered that it has been sold elsewhere, specifically by a whale whose BTC sales have now topped 1,000 BTC, each sold in batches of 20-30 BTC on the open market.

“That just shows how liquid this market is now,” he summarized.

Both the weekly and monthly closings on Sunday will be interesting for market participants, with the latter seeing a potential all-time high. BTC / USD could also close above USD 60,000 for its third straight week.

Altcoin market capitalization passes all-time high

For many, however, the beginning of the weekend was all about altcoins.

Related: Altcoin Roundup: Dogecoin, Shiba Inu, and Memes haul the dogsled for mass adoption

Ethereum’s Ether (ETH) hit new all-time highs on Friday, helping the total cap of the altcoin market hit new highs of its own – $ 1.473 trillion.

Altcoin Market Cap 1 Week Candlestick Chart. Source: TradingView

Elsewhere, the strong performance persisted, with Shiba Inu (SHIB) stabilizing after its tremendous gains over the course of the week.