Bitcoin<\/strong><\/a> (CRYPTO: BTC) and Ethereum<\/strong> (CRYPTO: ETH) saw minor\u00a0gains as the global cryptocurrency market capitalization rose 0.7% to $2.10 trillion.<\/p>\n

What Happened: <\/strong>BTC rose 0.77% to $49,393.81 intraday, hovering just below the psychologically important $50,000 mark. For the week, the apex coin was up\u00a03.82%.<\/p>\n

Charles Hoskinson<\/strong>-created Cardano<\/strong><\/a> (CRYPTO: ADA) shot up 12.83% to $2.78 over 24 hours. ADA was up 28.97% for the week.<\/p>\n

BTC fork Dash<\/strong> (CRYPTO: DASH) traded 11.86% in the green at $265.63 over 24 hours. Over seven days, DASH was up 24.98%.<\/p>\n

On Sunday night, Telcoin<\/strong> (CRYPTO: TEL) saw the highest 24 hours gain as it rose 30.72% to $0.0283. Over seven days TEL was up 40.23%.<\/p>\n

TEL was up 30.03% and 30.83% against BTC and ETH respectively. Since the year began, TEL has skyrocketed 16,440.22%.<\/p>\n

Other coins that saw gains in 24 hours included Nano<\/strong> (CRYPTO: NANO), Avalanche<\/strong> (CRYPTO: AVAX), and Basic Attention Token<\/strong> (CRYPTO: BAT).<\/p>\n

Nano rose 20.01% to $7.46, AVAX gained 10.65% to $47.25, and BAT was up 8.69% to $0.86 in the period.<\/p>\n

Why It Matters: <\/strong>As Bitcoin approaches the key $50,000 level, analysts are cautioning that the cryptocurrency faces resistance, but also point to the all-time highs that lie beyond.<\/p>\n

Veteran options trader John Wick <\/strong>pointed on Twitter that there were \u201csupply front fears of $50k distribution.\u201d<\/p>\n

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#BTC<\/a><\/p>\n
Today is the first day we are testing my $50k target area and seeing a reaction.<\/p>\n
So far a bit of supply front running fears of $50k distribution. If we can get past this area of resistance I’ll feel even more confident about ATH’s this year. pic.twitter.com\/fWV0P1o0dW<\/a><\/p>\n
\u2014 John Wick (@ZeroHedge_) August 21, 2021<\/a><\/p>\n<\/blockquote>\n
Twitter handle “Material Scientist<\/strong>” warned of a \u201cmodestly bearish\u201d setup based on analysis of futures market activity.<\/p>\n
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In addition, we still have a lot of 50k puts, suggesting we get rejected here. pic.twitter.com\/amxO3rYW7C<\/a><\/p>\n
\u2014 Material Scientist (@Mtrl_Scientist) August 21, 2021<\/a><\/p>\n<\/blockquote>\n
Meanwhile, long-time gold bug Peter Schiff<\/strong> said over the weekend that if he could \u201cgo back in time\u201d one of the things he would do differently is buy BTC<\/a>.<\/p>\n
Schiff still won\u2019t buy BTC and described it as a \u201cground floor for an opportunity.\u201d<\/p>\n
\u201cThis is when the people who got in at the ground floor are getting out,” said Schiff \u2014\u00a0adding he is not, \u201cnot gonna be somebody’s exit strategy.”\u00a0<\/p>\n
Read Next: <\/em>EXCLUSIVE: Why This Company Chose To Build A Supply Chain For Human Reproductive Material Over The Bitcoin Blockchain<\/em><\/a><\/p>\n<\/p><\/div>\n