Bitcoin breaks $32,000 for the first time in three weeks

On May 30 and 31, the quotes of the first cryptocurrency exceeded $32,000 for the first time in three weeks. At the time of writing, the price of BTC has corrected to $31,570.

Before that, digital gold was above $32,000 on May 11. Over the past seven days, the asset has risen in price by 6.6% (CoinGecko).
BTC/USD chart on Binance exchange. Data: Trading View.

In the last days of May, the price of Ethereum broke through $2,000, but has now rolled back to around $1,930. Over the past 24 hours, the second largest cryptocurrency by capitalization has lost 1.8%.
ETH/USD chart of the Binance exchange. Data: Trading View.

BTC dominance index – 44.2%, ETH – 17.2%. Compared to its all-time high of $69,000, Bitcoin is down more than 54%. Ethereum lost 60% of ATH.

At the time of writing, the top 10 crypto assets by capitalization in the green zone are BNB (+0.3%), XRP from Ripple (+0.2%) and Polkadot (+0.6%).
Data: CoinGecko.

Earlier, the price of bitcoin for the first time in history fell for the first nine weeks in a row. Prior to this, the record series did not exceed seven weeks.

At the end of May, Glassnode analysts found that many hodlers took advantage of the BTC price drop below $30,000 to build positions.

Recall that JPMorgan analysts called the fair price of bitcoin at $38,000.

Guggenheim Partners investment director Scott Minerd and critic of the first cryptocurrency Peter Schiff allowed digital gold quotes to fall to $8,000.

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