After a few days of trading sideways and losing value, Bitcoin finally went on the offensive yesterday evening and spiked above $69,000, where it faced a strong rejection.
The altcoins have suffered in the past 24 hours, aside from TON, XRP, and BCH, all of which have posted minor gains.
Bitcoin’s price actions this week have been quite unfavorable for the asset. It all started on Monday with a price slump that drove the cryptocurrency from over $70,000 to under $66,000.
That was just the beginning, as the bears initiated another leg down on Tuesday and Wednesday. This time, the largest digital asset fell to a 10-day low of around $64,500. The bulls finally intercepted the moves at this point and began a slow recovery that saw Bitcoin reclaim some ground on Thursday morning.
Hours later, the cryptocurrency went on the offensive once again and soared by several grand. As a result, it jumped above $69,000 amid the growing ETF inflows, but that turned out to be a false breakout.
The rejection drove BTC south by around three grand. Nevertheless, the asset is slightly in the green now and stands above $67,000. Its market capitalization has increased by about $20 billion to $1.325 trillion, while its dominance over the alts is up to 50.3% on CG.
BTCUSD. Source: TradingView
Most of the larger-cap alts are in the red on a daily scale. Solana leads this adverse trend with a massive 6% drop, pushing it down to $173. DOGE, AVAX, and LINK follow suit, with price declines of around 3-4%.
ETH, BNB, ADA, and DOT are also slightly in the red. In contrast, BCH, TON, and XRP have gained around 1-2%. MNT and ETC are the top performers from the 36 largest crypto assets.
WIF, on the other hand, is down by 15% in a day. The popular meme coin has dropped to $3.3 as of now.
Still, the total crypto market cap has increased by around $10 billion and is up to $1.635 trillion on CG.
Cryptocurrency Market Overview. Source: QuantifyCrypto
The post WIF Plummets by 15% Overnight, BTC Recovery Begins by Reclaiming $67K Level (Market Watch) appeared first on CryptoPotato.
The altcoins have suffered in the past 24 hours, aside from TON, XRP, and BCH, all of which have posted minor gains.
BTC Stopped at $69K
Bitcoin’s price actions this week have been quite unfavorable for the asset. It all started on Monday with a price slump that drove the cryptocurrency from over $70,000 to under $66,000.
That was just the beginning, as the bears initiated another leg down on Tuesday and Wednesday. This time, the largest digital asset fell to a 10-day low of around $64,500. The bulls finally intercepted the moves at this point and began a slow recovery that saw Bitcoin reclaim some ground on Thursday morning.
Hours later, the cryptocurrency went on the offensive once again and soared by several grand. As a result, it jumped above $69,000 amid the growing ETF inflows, but that turned out to be a false breakout.
The rejection drove BTC south by around three grand. Nevertheless, the asset is slightly in the green now and stands above $67,000. Its market capitalization has increased by about $20 billion to $1.325 trillion, while its dominance over the alts is up to 50.3% on CG.
BTCUSD. Source: TradingView
WIF Dumps Hard
Most of the larger-cap alts are in the red on a daily scale. Solana leads this adverse trend with a massive 6% drop, pushing it down to $173. DOGE, AVAX, and LINK follow suit, with price declines of around 3-4%.
ETH, BNB, ADA, and DOT are also slightly in the red. In contrast, BCH, TON, and XRP have gained around 1-2%. MNT and ETC are the top performers from the 36 largest crypto assets.
WIF, on the other hand, is down by 15% in a day. The popular meme coin has dropped to $3.3 as of now.
Still, the total crypto market cap has increased by around $10 billion and is up to $1.635 trillion on CG.
Cryptocurrency Market Overview. Source: QuantifyCrypto
The post WIF Plummets by 15% Overnight, BTC Recovery Begins by Reclaiming $67K Level (Market Watch) appeared first on CryptoPotato.
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