Bitcoin’s price continues to trend upwards, breaking above the coveted psychological and technical resistance level at $90,000. The last time it traded at this level was on March 7th – around six weeks ago.
The cryptocurrency is now up 3.3 in the past 24 hours, bringing its total weekly gains to 7.3. According to CoinGecko, its dominance over the rest of the market currently stands at 61.6 and has been increasing through the day as well. This signals that BTC is outperforming the altcoin market.
As CryptoPotato reported earlier today, Bitcoin’s dominance is at a 4-year peak, signaling strong investor confidence in the primary cryptocurrency.
Source: TradingViewSpeaking of altcoins, most of them are in the green as well. Ethereum is charting a 1.5 increase, XRP is up by 1, while SOL and DOGE are performing better, surging by almost 4 each.
This move has caused an uptick in liquidated positions across the derivatives market, which currently stand at around $320 million, according to data from CoinGlass. Naturally, the majority of these are short positions accounting for around $190 million of the total.
