Bitcoin’s recent gains have traders calling a bottom, but various metrics remain bearish By Cointelegraph

[ad_1]

Bitcoin’s recent gains have traders calling a bottom, but various metrics remain bearish

On May 30, the total crypto market capitalization gained 4% and currently is within reach of a $1.3 trillion market capitalization. The move was enough to erase the losses from the previous seven days and was driven mainly by ‘s (BTC) 4.9% gain during that time frame.

Total crypto market cap, USD billion. Source: TradingView

Apart from Bitcoin, (ADA) was the only large-cap cryptocurrency that managed to close the week with a positive 4.5% performance. Meanwhile, Ether (ETH), BNB, (XRP) and (SOL) failed to present weekly gains.

Weekly winners and losers among the top 80 coins. Source: Nomics
(USDT) peer-to-peer vs. . Source: OKX
Accumulated perpetual futures funding rate on May 30. Source: Coinglass