Bitcoin (BTC) continues to rise, reaching a 10-day high recently. Additionally, Chainlink (LINK) surged by 7% in a day, revitalizing the altcoin market atmosphere. The weekend cryptocurrency market was generally lively, with some major altcoins maintaining their upward momentum.
Bitcoin started with uncertainty, dropping to $112,000 (about 155.68 million won) amid political tensions in early August. However, it quickly rebounded, reaching $117,000 (about 162.63 million won) on Friday. As buying pressure intensified over the weekend, it successfully broke through the resistance line on Saturday, reaching $118,500 (about 164.87 million won). Although it slightly declined afterward, it still maintains approximately a 1% daily increase. Consequently, Bitcoin's market capitalization increased to $23.55 billion (about 3,272.45 trillion won), with its market share rising to 58.4%.
Meanwhile, Chainlink surged about 7% in a day, breaking through $22 (about 30,580 won). While major altcoins were adjusting, LINK drew market attention with its independent momentum. Ethereum (ETH) continues to maintain around $4,200 (about 5.838 million won), defending its recent high. XRP, Solana (SOL), Binance Coin (BNB), Dogecoin (DOGE), Cardano (ADA), Bitcoin Cash (BCH), Hedera (HBAR), Stellar (XLM), and Sui (SUI), which recently showed sharp increases, all experienced slight declines.
The total cryptocurrency market capitalization consistently maintains around $4 trillion (about 5,560 trillion won), which is approximately $27.8 billion (about 386.8 trillion won) higher than the low recorded last Thursday. Particularly, as investment sentiment towards altcoins recovers, differentiation between major cryptocurrencies is becoming more pronounced.
This weekend's market, symbolized by Bitcoin's resistance breakthrough and Chainlink's strength, is analyzed to have formed a rebound trend, breaking away from the recent stagnant atmosphere. Although market volatility factors such as geopolitical variables still exist, short-term buying pressure from investors seeking to maintain the upward trend is supporting the market.
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