Bitcoin canceled the entire day’s BTC price drop with a new breakthrough of over 46,000 USD

Bitcoin (Bitcoin) The classic comeback was staged again on August 13th, because the day’s loss suddenly turned positive.

BTC/USD 1-hour candlestick chart (Bitstamp). Source: TradingView

Bitcoin plummeted in classic style

Data from Cointelegraph Markets Pro and Transaction view It shows that BTC/USD rose from below 44,000 USD to above 46,300 USD within a few hours.

Friday’s 5.5% gain erased the entire previous day’s gain Downtrend, Once again proves the staying power of the bulls at a price level above $40,000.

“Well, hello Bitcoin,” Cointelegraph writer Michaël van de Poppe Summarize Before the YouTube update of the day.

Bitcoin’s latest rebound coincides with Fresh noise From the United States, more and more senators questioned the language of cryptocurrency in the newly passed infrastructure bill.

Legislators demanded that the bill had not been revised at first and must now improve its cryptocurrency so as not to be detrimental to the industry.

In the final stage of the passage of the bill, BTC/USD kept rising, even dismissing the initial lack of amendments.

At the same time, Argentine President Alberto Fernandez, disclose Willing to adopt Bitcoin in financially troubled countries.

With positive headwinds coming back into play, so did the attack on the main resistance at the time of writing.

A sort of Look The buy and sell levels on the main exchange Binance show that $47,000 is the final level for the bulls to break through, and the huge support wall has accumulated to $41,000.

BTC/USD trading level (Binance) as of August 13. Source: Material Indicators/Twitter

Ether price recovers 3,000 USD

At the same time, altcoins have also benefited from Bitcoin’s trend. Some of the top 50 Bitcoins by market capitalization have taken advantage of more than 40% weekly gains.

related: These 3 indicators show that there is still time to usher in another “DeFi summer”

The largest altcoin Ether calculated by market value (Ethereum) Is relatively calm, rose 2.5% on the day to near 3,200 US dollars Short failure It broke through the $3,000 mark on Thursday.

ETH/USD 1-hour candlestick chart (Bitstamp). Source: TradingView

On Friday, the overall market value of cryptocurrencies was US$1.93 trillion, which was close to recovering the US$2 trillion support level after months of absence.