Bitcoin and Ethereum Hold Up, NFT Prices Correct, These Altcoins Outperformed This Week » Crypto Insiders
This week, the cryptocurrency market saw new all time highs (ATHs) for the two largest cryptos, among others. However, prices then corrected lower again and the disapproval of a spot ETF may have caused a mini on Friday. sudden accident† Yesterday morning the market turned quite red, but today most prices are already positive. Total market capitalization is slowly approaching $3 trillion.
Bitcoin
Bitcoin (BTC) hit an ATH of $69,000 on Wednesday, but dropped back below $64,000 yesterday. Earlier in the afternoon, bitcoin jumped from $63,700 to $65,000, an increase of 2%. Last night, bitcoin initially fell back to $64,000, then rose steadily to $64,650, then jumped back up, briefly hitting $65,750.
However, bitcoin subsequently corrected to $65,000, could not hold out and is falling to $64,500 this morning. However, this is an upward trend with the so-called highest lows and highs in the last 24 hours.
If we zoom out a bit, Bitcoin appears to have entered a consolidation phase again. Zooming out even further, we see that Bitcoin is still following the same pattern as it was a few weeks ago. That could mean we may see a drop or two before Bitcoin breaks out again. The long-awaited update to Taproot was released last night, can this offer a helping hand with the price?
waiting to see if #BTC can make a weekly close above 64.8k.
The weekly closing price is what matters, the pullback is intra-week and has so far found support at the 21-day MA.
will become very #bullish in technical terms in the short term yes #BTC makes a weekly close above 64.8k pic.twitter.com/LdPC3LVUC1
—Daniel Joe (@DanielJoe916) November 13, 2021
Top 10 Altcoins
Ethereum (ETH) reached an ATH of $4,875 this week. Ether looked even more stable than bitcoin yesterday morning, but this morning it looks like the tables have turned. Ether rallied to $4,700 yesterday, then dropped back to $4,650, and then briefly hit a high of $4,730. However, this morning, Ether dropped $4,600 again. the price seems to be showing some hairline cracks and we may see another drop before the ether rallies and breaks out.
$ETH weekly. As someone who has been a very big bull. I think better r/r IF it closes like this it is down the following week. Easy to do much harder to maintain. 1 day to go, but I am definitely not a fan of the current doji. pic.twitter.com/KPFdnJSDfn
— Pentoshi will not send you direct messages. I hate DMs. DMs are scams (@Pentosh1) November 13, 2021
Binance coin (BNB) and solana (SOL) briefly led the way yesterday. BNB price started to rise sharply yesterday, rising 5.6% from $625 to a high of $660. However, the price was unable to maintain that and is dipping as low as $640 this morning, but now it looks like it is finding support here. We see the same pattern with solana. SOL rose from $225 to a high of $242 yesterday, up 7.5%. SOL also corrected lower afterwards, but looks set to find support around $235 this morning.
Dogecoin (DOGE) suddenly made a quick move to the upside this morning. DOGE price just spiked from $0.261 to $0.270, up 3.5% in an hour, but is now correcting lower. Shiba Inu (SHIB) rose just as strongly last night with 7.6% from 0.515 to 0.554, but then corrected almost as much lower.
The 100 people who rise and fall with more force
Surprisingly, today we see that the prices of non-fungible tokens (NFTs) that increased faster yesterday, are now correcting more strongly again. Chiliz (CHZ) is down 4%, enjin (ENJ) is down 6%, sandbox (SAND) is down 7%, and decentraland (MANA) is even down 10%. The biggest losers this week are Safemoon (SAFEMOON), which lost 17.5%, and OMG Network (OMG), which was even down 28% from a week ago.
The best performers today are Avalanche (AVAX), which is up 12% and hit another new ATH of $99.77 this morning. Also, we see that the loop ring (LRC) goes back up and is 12% higher. iotex (IOTX) is also on the rise again and is 24% higher. The fastest gainer on the market today is radio poop (RACA), an NFT project on Binance Smart Chain, which broke into the top 100 last night. RACA price is up 37% today and just set a new ATH of $0.0119
The five best-performing stocks this week were helium (HNT) up 45%, kadena (KDA) up almost 60%, IOTX up 120%, LRC up 140% and newcomer RACA up 178%.
