The BTC on Friday rose to 30,876 USD. The weekly growth already amounts to 10.7%. Good that the leading cryptocurrency has passed the interim resistance level at 30,500 USD and now aims at 31,150 USD. A successful attack on this level and securing above it should let the BTC reach the range of 34,000-35,000 USD.
The correlation with the US stock market remains quite high. Good news from this side gives a strong foothold to the BTC; however, right now the boom of optimism in the ETH is pushing up the main coin as well.
The capitalisation of the crypto sector at the end of the week rose to 1.288 trillion USD. The part taken by the BTC has dropped to 46.5%, while the share of the ETH has climbed to 19.7%.
ETH: only the stars are higher
The ETH has grown 10.05% overnight, rising above 2,110 USD. The token has fundamental enough support to reach 2,200 USD.
The support is the update of the Ethereum blockchain under the working title Shanghai from the update group Shapella. It has let investors withdraw in due order the coins earlier placed there as deposits in the Beacon Chain smart contract. Practically, this is the stacking that had been discussed. The saved rewards have become available for withdrawal on wallets as well.
Curiously, the level of trust in the ETH has increased significantly. Just 0.3% of the 18 million ETH placed in the contract for staking was withdrawn overnight.
Source: Roboforex
