Author: Konstantin Anissimov

The global cryptocurrency market is seeing a general uptrend, coming in as a healthy bullish resurgence following a downcast rally seen across the board yesterday. Bitcoin (BTC) and by effect Ethereum (ETH) is particularly energized as Chinese tech firm Meitu Inc doubled up on its accumulation strategy. The firm scooped up an additional 175.6 Bitcoins for $10 million bringing its total holdings to 31,000 ETH and 940 BTC.

Bitcoin (BTC) and Ethereum (ETH) are both paring off losses from the frightening dips experienced yesterday, as the market received a new rejuvenation. Bitcoin that traded as low as $53,827 in the past 24 hours is now up by 4.4% to $56770 per data adapted from CEX.IO. Ethereum’s surge though notable has lagged behind that of BTC, showing a much limited upward volatility. Ethereum is exchanging hands $1716.54 after seeing a 1.57% growth in the past 24 hours.

The capitalization of the global cryptocurrency market is down by almost 0.7% in what appears as a gradual shed-off of the massive gains recorded in the past 24 hours and since the beginning of the week.

BTC/USD opened the trading session of 25th February at 49,676, and it closed above 50,500 in the first hour. Later on, until 09:00 UTC, BTC/USD was going sideways, keeping for the most time between the level of the session open and 50,500. BTC/USD took a slight dive to 49,000 between 09:00 and 10:00 UTC, with the hour’s lowest point being at 48,700 as per the CEX.IO pricing, but rebounded rather quickly in the next hour and continued upwards until 13:00 UTC, getting to 51,500.

BTC/USD started the trading session of 17th February at 49,174. An attempt to test the intraday resistance level was taken between 01:00 and 02:00 UTC. But the selling pressure curbed the bullish swing and sent the price down in the next two hours close to 49,000.

BTC/USD opened the trading session of 9th February at 46,550 and had slipped to 43,833 by 03:00 UTC. At 03:00 UTC, the trading pair began rising and had reached 48,200 by 07:00 UTC as per the CEX.IO exchange rate.

BTC/USD started off Thursday, 4th February, at 37,658.5. The pair rose above 38,000 in the first two hours and took a bit of a downside retracement to 37,537 between 02:00 and 04:00 UTC.