Bitcoin eyes third weekly close above $ 60,000 as Ethereum fuels new altcoin market cap record

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Bitcoin (BTC) held $ 61,000 until the weekend after “aggressive” purchases on Coinbase triggered multi-day highs.

1 hour BTC / USD candle chart (Bitstamp). Source: TradingViewCoinbase BTC buyers step up efforts

Data from Cointelegraph Markets Pro and TradingView showed BTC / USD cooled overnight after briefly challenging $ 63,000.

Friday saw strong performance after the traditional US markets opened, helping Bitcoin move closer to its minimum monthly close target.

As analysts noted, the major Coinbase exchange saw a strong build-up that day.

Some aggressive BTC buying on Coinbase right now pic.twitter.com/sR1eMuF2ze

– Will Clemente (@WClementeIII) October 29, 2021

Popular trader and analyst Pentoshi has meanwhile noted sales elsewhere, particularly of a whale whose sale of BTC has now reached over 1,000 BTC, each sold on the open market in lots of 20 to 30 BTC.

“It shows how liquid this market is now,” he summed up.

The weekly and monthly Sunday closing will be a source of interest for market participants, the latter experiencing record potential. BTC / USD could also close its third week in a row above $ 60,000.

Altcoin market capitalization hits all-time highs

For many, however, it was altcoins at the start of the weekend.

Related: Altcoin Roundup: Dogecoin, Shiba Inu, and Memes Transport Dogsled Towards Mass Adoption

Ethereum Ethereum (ETH) hit new all-time highs on Friday, helping the overall altcoin market cap to reach new highs – $ 1,473 billion.

1 week candle chart of the Altcoin market cap. Source: TradingView

Strong performances remained elsewhere, with Shiba Inu (SHIB) leveling off after his skyrocketing gains throughout the week.

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