Bitcoin Price Seeks Third Weekly Close Above $ 60,000 As Ethereum Drives New Market Cap Record For Altcoins

Bitcoin (BTC) preserved $ 61,000 over the weekend after “aggressive” purchases on Coinbase triggered multi-day highs.

1-hour candlestick chart for the BTC / USD (Bitstamp) pair. Source: TradingView

BTC Buyers on Coinbase Step Up

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

Strong performance was seen on Friday after the opening of traditional US markets, which helped push the price of Bitcoin to close to its monthly minimum closing target.

As analysts pointed out, the major exchange Coinbase was the place where there was considerable buildup on the day.

Some aggressive BTC purchases on Coinbase right now

Popular trader and analyst Pentoshi also noticed the sale elsewhere, specifically from a whale whose divestment from BTC has now reached more than 1,000 BTC, each sold on the open market in lots of 20-30 BTC.

This shows the liquidity of this market“, said.

Both the weekly and monthly closing on Sunday will be a source of interest for market participants, with the latter seeing an all-time high potential. Bitcoin price could also close its third consecutive week above $ 60,000.

Altcoin market capitalization surpasses all-time highs

For many, however, altcoins stood out at the start of the weekend.

Ethereum’s Ether (ETH) hit new all-time highs on Friday, helping the Overall market capitalization of altcoins to hit new peaks of its own: $ 1.473 trillion.

1-week candlestick chart for altcoin market capitalization. Source: TradingView

The strong performance held for other altcoins, with Shiba Inu (SHIB) stabilizing after its skyrocketing gains throughout the week.

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