BTC Holds Above $5,000, Traditional Markets See Mixed Signals

Tuesday, April 9 - As major cryptocurrencies are trading sideways, Bitcoin is holding above the $5,200 mark despite a minor decline in price.

Traditional markets are down as United States president Donald Trump has threatened to impose $11 billion in duties on European goods.

BTC is trading sideways over $5,200 after breaking the $5,300 mark yesterday.

"We're now testing a new resistance line exactly at $5,350 And notice we are trading well above the 200-day moving average. This was an indicator we were watching very closely as a kind of sign whether we are in a bull or a bear market."

According to the stats provided by CoinMarketCap, BTC has been steadily growing since April 2 - the day when the crypto markets started showing the first significant signs of recovery in 2019.

As of press time, the market capitalization of BTC is over $91 billion, which is almost $20 billion more than it was before the surge.

Its gap with the ETH market cap has increased, as XRP now has $14.7 billion in market cap in comparison to its competitor's $18.8 billion.

The total market capitalization of all cryptocurrencies is hovering around $180 billion, while daily trading volume is at $55.2 billion.

As for the industry news, a recent report from weekly crypto outlet Diar has shown that the trading of institutional BTC investment products have seen growth for the fourth month running.

The United States stock market is seeing mixed signals at the press time, with the Dow Jones Industrial Average down 0.32%. At the same time, the S&P 500 and Nasdaq Composite are up 0.1 and 0.19%, respectively.