The cryptocurrency market, which started the week of April 15 with an optimistic atmosphere, is gaining value under the leadership of Bitcoin and Ethereum. The market, which fell to 2.21 trillion due to geopolitical reasons caused by the Iran-Israel war, started the week with an increase of 2.23 percent and reached 2.42 billion again. In market conditions, which are now showing signs of recovery Bitcoin experienced a slight retreat after a 4 percent rise. With the rise of BTC, ETH increased by 6.5 percent, and assets such as BNB, SOL, TON coin showed a recovery of between 5 and 10 percent.

Overview of Crypto coins

After the ETF and Ethereum ETF applications on the Hong Kong stock exchange, cryptocurrencies started to recover. Bitcoin price is trading at $66,000, while leading second cryptocurrency ETH is trading at $3.23, up 6.60%. BNB token managed to reclaim the $580 level with a 4% rise. According to CoinMarketCap data, Solana was one of the biggest gainers of the day, rising 8.23%. However, assets such as ADA and AVAX increased by over 5 percent.

Meme coins, on the other hand, recovered quickly and started to compensate for their losses. DOGE reclaimed the $0.16 level, up 5.20 percent. Altcoins and meme coins in the Solana ecosystem also showed gains of between 6 and 17 percent. Render and The Graph (GRT) were among the top gainers with an 18% increase.

Critical support levels in Bitcoin price

Despite the improvement in the Crypto market, economist Peter Schiff touched on the trajectory of the Bitcoin and talked about critical support levels in his latest X post. The economist underlined that $60,000 is a very important support zone for BTC and claimed that a triple top could form in the event of a breakout. He explained that if the triple top model is entered, there will be a big loss in the asset and a pullback towards $20,000 to the downside may come.

BTC technical chart indicates that the asset could fall towards $60,000, but a decline towards $20,000 is unlikely. Finally, the 50-day EMA and 200-day EMA levels indicate significant support on the price. On the other hand, the increase in BTC dominance reached 55 percent against the general market, reaching the highest level in the last three years. It is estimated that the market value will continue to increase with the inflow of funds in the BTC ETF.

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The information in the content of the article is for informational purposes only. It does not constitute any investment advice. The author and kriptoparahaber.com are not responsible for your profit or loss arising from the investments you make. Investment is ultimately based on many foundations such as knowledge, experience, research and personal decisions.