BTC reached 30,710 USD on Friday, marking a weekly growth of 2.35%.
Improvement in the domestic news landscape and the reestablished correlation with the US stock market are working in favour of the flagship cryptocurrency. At the same time, it should be noted that the rally is not formed yet because buyers remain cautious. For the BTC exchange rate to confidently move upwards, the cryptocurrency needs to secure above 31,150 USD. Once this is achieved, the next target for growth would be 33,000 USD.
The capitalisation of the cryptocurrency market is gradually increasing and currently stands at 1.190 trillion USD. The share of BTC remains at 50.2%, while the share of ETH has decreased to 18.9%.
According to a recent calculation, the complexity of mining the leading cryptocurrency has decreased by 3.26%. For May, the cumulative revenue of miners amounted to 916 million USD, which shows consistent growth since November last year.
The King of the UK has ratified a draft bill allowing regulators to oversee digital assets and stablecoins. This is a formal measure, as the legislation was previously agreed upon at the House of Lords.
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Article By RoboForex.com
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