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The cryptocurrency markets were trading slightly lower on Monday after Bitcoin reached 48,000 over the weekend. In the last 24 hours, the global cryptocurrency market capitalization declined by 0.8% to roughly $1.8 trillion.

Bitcoin was down 0.14% at $48,128, while Ethereum down 1.15% to $2,498.

Other altcoins, like Solana, Avalanche, Cardano, and Polygon, lost 3-4 percent. XRP, Dogecoin, Chainlink, Polkadot, Internet Computer, and Shiba Inu all decreased by up to 3%.

BTC has been experiencing positive price action since last week, owing to the spot ETF momentum. According to a recent post by Glassnode, on-chain measures analyzing BTC’s value suggest that we may have entered the early stages of a bull market

The cryptocurrency market continues to rise, fueled by rising interest and acceptance of Bitcoin Spot ETFs. Bitcoin surged more than 6% in a single day over the weekend, testing resistance around $49,000 before closing above $48,000 today. Any breakout above $49,000 might propel the price towards $50,000 and, ultimately, the all-time high of above $60,000. Once Bitcoin’s supremacy fades, Ethereum and other cryptocurrencies’ market capitalizations may skyrocket.

DeFi currently has a total volume of $4.5 billion, accounting for 9.96% of the whole crypto market’s 24-hour volume. According to CoinMarketCap data, the total amount of stablecoins is now $40.32 billion, accounting for 89.34% of the whole crypto market’s 24-hour volume.

Bitcoin, the world’s largest cryptocurrency, has seen its market capitalization rise to $943 billion in the last 24 hours. According to CoinMarketCap, Bitcoin presently holds a 52.5% domination. In the last 24 hours, BTC volume climbed by 2.07% to $19 billion.

The Bitcoin price is hanging at $42,585, with a high probability of breaking above $49,000 and important support at $47,680. Technical indications point to a positive outlook, with an RSI around 77.