Bitcoin price remained strong and it extended its rally above USD 58,000. BTC even traded to yet another all-time high near USD 58,641 (per Coingecko.com) before it started a downside correction. It is currently (05:00 UTC) trading below USD 57,000, with key supports at USD 55,000 and USD 52,000.
Similarly, there were corrective moves in most major altcoin. ETH/USD failed to continue higher above USD 1,950 and declined to USD 1,850. XRP/USD was trading below USD 0.530 this morning before it rallied above USD 0.615.
Total market capitalization
There were additional gains in bitcoin price above the USD 57,000 level. BTC even cleared the USD 58,000 level and traded to yet another all-time high near USD 58,641. However, it failed to continue higher towards USD 60,000 and recently corrected lower.
There was a break below the USD 57,000 and USD 56,200 support levels. The next major support is near the USD 55,000 support level. If there are more downsides, the bears might test the weekly support at USD 52,000. On the upside, the main hurdle this week could be USD 60,000.