Bitcoin is showing signs of profit booking, resulting in a slight downturn in altcoin prices.
Bitcoin hit a new 2020 high and altcoins rallied as PayPal announced that it will support crypto payments.
Bitcoin price may rise to a new 52-week high if it can break above the ascending channel and this move could ignite the altcoins.
Bitcoin and altcoins must rebound off their immediate support levels to recapture bullish momentum and resume the uptrend.
After rallying 8.15% to $387, Ethereum price is fast approaching a key resistance at $400.
YFI price is still in a downtrend and many investors believe all attempts at recovery are being suppressed by Alameda Research.
On-chain data shows Ethereum miners saw a 39% surge in revenue as fees soared during the DeFi craze.
Bitcoin price rallied to $11,491 after bulls managed to flip the $11K level from resistance to support.
Bitcoin price rallied close to $11,000 after Square announced a $50 million BTC purchase.
The Ethereum hash rate broke the 250 TH/s barrier for the first time since Aug. 2018