Cryptocurrency prices maintained their positions in the green Wednesday, with bitcoin inching up 3.2% to $35,722.54 in the last 24 hours, based on price monitoring by Coingecko.
On CoinDesk, Bitcoin was priced at $35,610.35 while Ethereum, the second-biggest cryptocurrency with a market cap of $249 billion, was priced at $2,134.61, up 1.1% in the last 24 hours, Wednesday.
Bitcoin is hanging tough in the face of negative headlines, stretching its rally for the third day and providing some relief to battered bulls. The cryptocurrency was at $34,707.29, Monday.
The biggest cryptocurrency has rallied above its average price over the past 20 days, a positive sign for advocates who were expecting the cryptocurrency to regain its upward momentum. Bitcoin has a market value of almost $661 billion, according to CoinMarketCap's Wednesday chart.
The global cryptocurrency market cap is $1.45 trillion, while the total cryptocurrency market volume over the last 24 hours is $93.19 billion, figures by Money Control show.
"Prices rising in the face of bad news may be a sign of the seller's exhaustion; we need to go higher," CoinDesk quoted David Grider, a strategist at FundStrat, as saying.
According to Katie Stockton, managing partner at Fairlead Strategies, from a technical perspective bitcoin's long-term trend "remains intact" despite the loss of intermediate-term momentum.
The major economic data point analysts are awaiting this week is the U.S. jobs report Friday, which could affect assets that are deemed to be highly volatile and risky, and that includes bitcoin and other cryptocurrencies.
Alright the laser eyes didn’t work. Anyone have any ideas? https://t.co/43WyShRxr2 — Tom Brady (@TomBrady) June 28, 2021
Meanwhile, seven-time Super Bowl champion Tom Brady acknowledged prices of bitcoin have dropped since he revealed his support for the cryptocurrency.
Since Brady, who recently came out as a bitcoin bull, added laser eyes to his Twitter photo, bitcoin's price has dropped almost 40%.
When the Tampa Bay Buccaneers quarterback made the switch to his avatar, bitcoin sat near $56,245. Now, on Tuesday, the cryptocurrency was pegged near $34,655, Coin Metrics said.
The origin of the laser eyes meme is unclear, but it's part of a broader campaign to raise bitcoin's value to $100,000.
