Bitcoin started a slow and steady rise after testing the USD 6,250 support area. The cryptocurrency is now trading at $ 6484.2 on the BitForex exchange, at $ 6473 on BitMEX, at $ 6477.57 on Binance. The weighted average rate is $ 6,500.03 (+ 2.85%), capitalization of the crypto currency is $ 111.8 billion
BTC/USD is trading with positive signs USD 6,500 and it seems like the price could accelerate above the USD 6,500 resistance in the near term. Similarly, Ethereum, Ripple, Bitcoin Cash, Litecoin and neo traded higher with bullish moves. The current market sentiment is signaling more upsides as long as bitcoin price is trading above the USD 6,500 support.
On the other hand, if there is a downside correction, the USD 6,500 support zone could act as a strong barrier for sellers. Below this, the price will most likely retest the USD 6,000 support area.
As a reminders, once the bitcoin price had dropped to $ 6,000, 18,000 BTC were transferred to a wallet believed to be linked to BitMEX, a large cryptocurrency derivatives trading platform. The total value of these coins is currently over $114 million.