{"id":329015,"date":"2021-08-23T06:04:15","date_gmt":"2021-08-23T03:04:15","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-price-tags-50k-for-first-time-since-may\/"},"modified":"2021-08-23T06:04:15","modified_gmt":"2021-08-23T03:04:15","slug":"bitcoin-price-tags-50k-for-first-time-since-may","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-price-tags-50k-for-first-time-since-may\/","title":{"rendered":"# Bitcoin price tags $50K for first time since May"},"content":{"rendered":"

“# Bitcoin price tags $50K for first time since May <\/strong>”<\/p>\n

The Bitcoin (BTC) price was back on the offensive late Sunday, touching $50,000 for the first time since May and signaling that the bull market was fast app<\/a>roaching its second leg.\u00a0<\/p>\n

The BTC price peaked at $50,270.0 on Bitstamp, having gained 3% on the day, according to Cointelegraph Markets Pro. The largest cryptocurrency has a total market capitalization of $943 billion.<\/p>\n

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The Bitcoin price briefly wicks above $50,000 on Bitstamp : Cointelegraph Markets Pro<\/em><\/figcaption><\/figure>\n

On-chain metrics recently suggested that a supply squeeze may be imminent, with long-term holders and institutions bolstering their BTC holdings while prices remained at a\u00a0discount. A series<\/a> of higher lows and a positive daily close signal have carried momentum for BTC since trading in the low $30,000 range.<\/p>\n

Meanwhile, the Bitcoin Fear & Greed Index, which is based on a multifactorial sentiment analysis, has flipped<\/a> from \u201cextreme fear\u201d to \u201cextreme greed\u201d in less than a month. <\/p>\n

Bitcoin sentiment has flipped positive this month. Source: alternative.me<\/em><\/figcaption><\/figure>\n

The cryptocurrency market appears to have turned a corner this month, with the combined crypto capitalization currently hovering at roughly $2.2 trillion, according to Coingecko. By contrast, the combined crypto caplitazation dropped below $1.3 trillion during the depths of July’s bearish market action.<\/p>\n

Related: <\/em><\/strong>Crypto market cap returns to $2T for the first time since May<\/em><\/strong><\/p>\n

While Bitcoin initially led the crypto market recovery earlier this month, many altcoins have since surged. At the time of writing, Cardano (ADA),\u00a0Polkadot<\/a> (DOT) and Solana (SOL) were all boasting double-digit gains for the week.<\/p>\n