Bitcoin Settles Around $37,400 As Bulls Defend The $37k Support Level

TL;DR

• Bitcoin lost more than 1% of its value over the weekend but continues to trade above the $37k level.

• The total cryptocurrency market cap remains above the $1.4 trillion mark.

Bitcoin Trades Around $37,400

Bitcoin, the world’s leading cryptocurrency by market cap, saw both a pump and a dump over the weekend. Late on Friday, Bitcoin pumped to the $38,400 mark as bulls took control during that period.

However, the rally was short-lived as BTC began retracing and settled around the $37,600 region afterwards. The retracement continued over the weekend, with BTC effectively losing more than 1% of its value on Sunday to test the $37k support level.

BTC was able to hold the $37k support level and has slightly bounced back to trade above $37,400 per coin. With BTC maintaining its value above $37,400, the total cryptocurrency market cap remained around $1.42 trillion.

Despite the broader market underperforming over the weekend, DOGE, the native coin of the Dogecoin ecosystem, added more than 2% to its value during that period. Hence, outperforming the other major cryptocurrencies. 

BNB, Binance’s native coin, continues to underperform and is now trading at $230, down by 2% over the last 24 hours.