Bitcoin dominance drop and resistance at $55K stoke altseason hopes

Cointelegraph

Published Apr 27, 2021 05:35PM ET

Updated Apr 28, 2021 09:20AM ET

The overall cryptocurrency market saw a second day of gains on Tuesday after the weekend sell-off proved to be a good buying opportunity for retail and institutional investors.

Lower gas fees following the Ethereum network’s Berlin upgrade along with an increase in institutional buying and decentralized finance activity lifted the price of Ether to a new all-time high at $2,680.

BTC/USDT 4-hour chart. Source: TradingView
Strength of Bitcoin price recovery. Source: Jarvis Labs
Daily cryptocurrency market performance. Source: Coin360

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