![[뉴욕 코인시황/마감] Turning to an overall bullish trend… A bull market close at ,000 Kraken is expected](https://www.blockmedia.co.kr/wp-content/uploads/2020/12/비트코인-새-차트.jpg "[뉴욕 코인시황/마감] Turning to an overall bullish trend… A bull market close at ,000 Kraken is expected")
On the 5th (local time), the cryptocurrency market ended with an increasing number of stocks that switched from a downtrend to an uptrend, centering on major stocks.
Five of the top 10 stocks have risen, and 62 of the top 100 have green lights indicating an increase.
# Bitcoin rebounds above $49,000
According to CoinMarketCap, the price of bitcoin was $40,9073.27 at 4 p.m. New York time, up 1.64% from the previous 24 hours.
Ethereum fell 0.27%, Binance Coin 1.20%, Polkadot 3.59%, Uniswap 1.91%, Cardano 4.99%, Litecoin 0.82%.
At this time, the market capitalization of the cryptocurrency market was $1.441 trillion, and the share of Bitcoin reached 60.7%.
Source: Coin Market Cap (as of March 5, 4pm New York Time)
# Futures market also turned upward
The Chicago Merchandise Exchange (CME) bitcoin futures price also turned upward. March, which is the most actively traded, rose by $1,140 to $49,450, April to $1,130 to $49,950, and May to $890 to $5,325.
The Ethereum futures price rose by $4.25 to $1541.00 in March, by $6.50 in April to $1563.00, and by $5.75 in May to $1583.25.
# Institutions continue to accumulate bitcoin
In the cryptocurrency market, the number of stocks rebounding from the downtrend is on the rise, focusing on major stocks ahead of the weekend.
Bitcoin is rising and falling at $49,000, and its trading volume has declined to the level of $48 billion.
Michael Sailor, CEO of Micro Strategy, announced that the company bought an additional 205 BTC for an average price of $48,888, and spent $10 million in cash to do so.
On the 1st, the company also bought $15 million worth of bitcoins for an average price of $45,710 using the adjustment of the bitcoin price.
According to CryptoQuant data, institutions are actively accumulating bitcoin, with institutional investors buying $560 million worth of bitcoin through Coinbase Pro while the bitcoin price fell below $47,000 the previous day. appear.
Cointelegraph reported the content of Kraken’s report that if the bitcoin price reaches $75,000 as a result of analyzing the recent price trend of bitcoin, it will signal the entry of an overbought area, ending the bull market.
The report predicts that if the growth curve of Bitcoin, which has repeated price collapse and recovery since 2011, continues a similar trend, the bottom of the bull market is likely to hit $30,000 after the end of the bull market.
It also explained that the first quarter of 2021 will be the third-best performing quarter in Bitcoin’s 12-year history based on returns and annual volatility.
The US New York Stock Exchange rose 1.85% for the Dow, 1.55% for the Nasdaq and 1.95% for the S&P 500.