These Are Last Week’s Top Performers, as Bitcoin (BTC) Neared $49K (Market Watch)

Please fol­low and like us:
Pin Share

Bitcoin’s price increas­es con­tin­ued in the ear­ly hours of the Asian trad­ing ses­sion, and the asset neared $49,000 for the first time since the ETF approvals a month ago but was stopped there.

Most alt­coins have also turned red fol­low­ing days of price increas­es, and the total mar­ket cap has retraced by about $30 bil­lion since the peak ear­ly this morning.

BTC Failed at $49K

Bit­coin start­ed last week at a high­ly stag­nant point, with its price trad­ing side­ways at $43,000 for sev­er­al con­sec­u­tive days. This trend final­ly start­ed to break on Wednes­day evening and on Thurs­day especially.

The bulls stepped up on the gas at that point as BTC neared $45,000 and kept climb­ing on Fri­day. This time, the cryp­tocur­ren­cy jumped to over $48,000 for the first time in about a month.

After a minor retrace­ment on Sat­ur­day morn­ing, Bit­coin began anoth­er leg-up that result­ed in tap­ping $48,500 on Sun­day. As men­tioned above, the asset jumped even high­er on Mon­day morn­ing to $48,800.

As the com­mu­ni­ty was expect­ing a crack at $49,000, the land­scape changed. BTC was reject­ed at that point and has lost almost a grand, cur­rent­ly trad­ing at around $48,000. Its mar­ket cap has slipped to $940 bil­lion, while its dom­i­nance over the alts has increased to 52.5%.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

Alts Retrace

Most alt­coins were chart­ing impres­sive gains as well in the past few days and now, per­haps expect­ed­ly, have start­ed to retrace slight­ly. Ethereum and Binance Coin have declined by about 2%, and ETH is below $2,500 now, while BNB is down to $315.

Fur­ther loss­es come from the likes of SOL, XRP, ADA, AVAX, DOGE, DOT, and MATIC – all of which are down by 3–5%.

The land­scape is dif­fer­ent on a week­ly scale, though. DYM, BEAM, KAS, and IMX lead the way with dou­ble-dig­it gains of up to 72% in the case of DYM.

The total cryp­to mar­ket cap is down by $30 bil­lion since the peak ear­li­er today.

Cryptocurrency Market Overview. Source: Quantify Crypto
Cryp­tocur­ren­cy Mar­ket Overview. Source: Quan­ti­fy Crypto
SPECIAL OFFER (Spon­sored)

Binance Free $100 (Exclu­sive): Use this link to reg­is­ter and receive $100 free and 10% off fees on Binance Futures first month (terms).

Dis­claimer: Infor­ma­tion found on Cryp­toPota­to is those of writ­ers quot­ed. It does not rep­re­sent the opin­ions of Cryp­toPota­to on whether to buy, sell, or hold any invest­ments. You are advised to con­duct your own research before mak­ing any invest­ment deci­sions. Use pro­vid­ed infor­ma­tion at your own risk. See Dis­claimer for more information.

Cryp­tocur­ren­cy charts by TradingView. 

Source link

Please fol­low and like us:
Pin Share

Leave a Reply

Your email address will not be published.