Retail Traders Help Bitcoin Jump Above $26,000

Over the past four days, the price of bitcoin has increased by 8%. On the night of Monday, June 19, the BTC rate strengthened to $26,500.

Leading altcoin Ether (ETH) surged to $1,730. The rest of the digital currencies also showed growth over the weekend, enlisting the support of investors who entered the market for risky assets at the end of last week.

Litecoin (LTC), Polygon (MATIC) and Polkadot (DOT) rose 1.5% to $77.4, $0.601 and $4.55, respectively.

Glassnode has seen a surge in activity from addresses controlling between 0.1 and 1 bitcoin. It was these wallets that were most often bought at the end of last week.

A similar situation was observed a few months ago during the banking crisis in the US. After BTC dropped to $16,000, wallets holding between 0.1 and 1 BTC began to buy cryptocurrency, taking advantage of its low price.

Glassnode experts do not exclude that if retail traders follow the same tactics in the coming days, then Bitcoin will be able to reach $30,000.

An important event was the overcoming of pressure in the $26,000 area. A break above this psychological mark created the conditions for the return of the bullish trend.

Sellers may step up if bitcoin approaches $26,850, analysts predict.