Market Cap Hits $160bln In Rapid European Trading

← More Cryptocurrency News

Bitcoin News

Market Cap Hits $160bln In Rapid European Trading

By Graham McKinney
April 2nd, 2019

Global market capitalization has hit $160bln today in rapid early European trading, will we see higher highs continue?

  • Bitcoin price action at highest level since November of last year
  • Highs reached $5k on Kraken and Bitstamp briefly
  • Bitcoin and Litecoin both up over 10%

Bitcoin price action rapidly surged through the $4.2k resistance level earlier today as European traders started bidding the price to hit highs slightly over $5000 on Kraken and Bitstamp.

Alt-coins are also seeing a swift upswing in their valuations with Enigma up 20% and family favorite Dogecoin bitting at Enigma's heels - also up 20%

Exchange markets are trading in a tight spread around the $4.5k - $4.7k range, with leveraged derivative trading on Bitmex taking the price all the way to $5k before their backend was overloaded.

So far short positions on Bitmex have carried the brunt of the storm, with a huge list of liquidations at the $5k level.

Price action has abated slightly now as the markets await the NY opening bell - to see if prices will continue to reach higher highs and carry momentum forward into tomorrows Asian session for a end of week rally. 

Want to just buy some Cryptos quickly with your Visa or MasterCard? Read our guide