BTC above $7.8k as market regains some ground

06 Jun, 2019
by David Robb
Price Action
BTC above $7.8k as market regains some ground

After a huge price crash across the market yesterday, most of the major cryptos have started to retrace slightly. Bitcoin (BTC) is up, but still below the $8k level.

Total market cap / BTC dominance:

The total crypto market cap is back up to $249.5 billion. BTC dominance currently stands at 55.6 percent.

Bitcoin (BTC)

BTCUSD chart by TradingView

Bitcoin hit a high of around $7900 a few hours ago, before rapidly being rejected back down to just above $7600, higher than the previous 24-hour low of $7580. It is currently trading at around $7800, up around 1.5% for the 24h period.

Top 10

Binance Coin (BNB) has performed the best of all the top 10 cryptos in the last 24 hours, gaining almost 7 percent. All the others are up at least 1 percent, except Bitcoin Cash SV (BSV), which is down over 5 percent.

Chainlink (LINK)

LINKUSDT chart by TradingView

Chainlink is currently ranked 28th by market cap, which currently stands at $377.5 million, and some positive fundamentals saw it perform well towards the end of May. After a few days of significant losses this week, it has now reversed the trend and gained some positive momentum.

LINK performed better than any of the other top 50 cryptos in the last 24 hours, up around 24 percent. This may be due to an announcement regarding a partnership between Chainlink and the Harmony network, which recently completed a successful IEO. 

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