Bitcoin (BTC) price continues to recover and is approaching $ 55,000, these altcoins are going the fastest

Yesterday night, bitcoin (BTC rose to USD 52,500 in one move, after the price dropped all the way to USD 47,000. During yesterday’s day, the bitcoin price continued to rise and yesterday evening the cryptocurrency briefly encountered a slight resistance around $ 54,000.

This morning the bitcoin price broke through here as well and at the time of writing the bulls are already chasing $ 55,000. That also means that bitcoin’s market cap is now back above $ 1 trillion. Bitcoin’s market dominance is also slowly increasing again, but it is still below 50%.

The 20-day and 50-day moving average (MA) is around $ 57,000 and that limit can be quite a hurdle that can create a lot of resistance. If the bitcoin price also breaks through this, the way may be open towards $ 60,000. It would still be a long way from the new all-time high (ATH) of $ 64,800 that bitcoin hit on April 14.

Altcoins

Ethereum (ETH) is slowly climbing towards USD 2,600 at a similar rate to bitcoin. Today we also see the largest decentralized finance (DeFi tokens rise again, but not as strongly as yesterday. Non-fungible tokens (NFTs) are rising slightly faster, Chiliz (CHZ) and Enjin (ENJ) are up 14% today.

Notable are xrp (XRP) and harmony (ONE), both of which continue their strong rise from yesterday today. XRP is currently up 18% and ONE is almost 20%, but the strongest risers today are waves (WAVES) and phantom (FTM).

FTM is up 32% and has thus regained much of the ground it lost in severe corrections on April 18 and April 22. Still, the price is still nearly 50% below its ATH which it set on February 25 this year. In fact, Waves has made an increase of 43% in the last 24 hours, taking a new ATH of $ 21.6!

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