Bitcoin Dips Below $38K, IOTA Explodes 33% Daily (Market Watch)

Bitcoin continues to be uncertain at the $38,000 level and has slipped below it in the past few hours.

Most altcoins are also slightly in the red today, with ETH close to breaking below $2,000 and SOL dipping beneath $60.

BTC Under $38K

Last Friday saw bitcoin’s surge that drove the asset to an 18-month peak at $38,500. However, the cryptocurrency failed to maintain its momentum and dropped to under $38,000 almost immediately.

The weekend saw very few noteworthy movements, with BTC standing in a range between $37,000 and $37,500.

Monday and Tuesday, though, brought more pain for the bulls as the asset fell to a multi-day low of $36,700. Nevertheless, they managed to regain control over the market and pushed BTC north on Wednesday.

This culminated in a price surge to $38,400, but bitcoin couldn’t keep heading north and chart a new year and a half peak. Just the opposite, the asset has lost some traction since then and now trades under $38,000.

Its market capitalization has retraced to under $740 billion, while its dominance over the altcoins remains strong at 52%.

BTCUSD. Source: TradingView

IOTA Defies Market Sentiment

Most larger-cap alts registered impressive price gains yesterday, but the landscape today has changed. Ethereum is down by 2% and is close to breaking below $2,000 after nearing $2,100 yesterday. Binance Coin, Ripple, Tron, Toncoin, Avalanche, and MATIC have declined by similar percentages.

Solana, Cardano, and Polkadot are down by more than 3%. This means that SOL is currently under $60, ADA is way below $0.4, and DOT is just inches above $5.

Dogecoin is the only top 10 alt in the green. LEO, RUNE, UNJ, and MNT are with gains from the mid-cap alts.

IOTA, though, has emerged as the top performer from the top 100 digital assets, having soared by over 30% in a day.

The total crypto market cap has lost some steam and sits at $1.420 trillion on CMC.

Cryptocurrency Market Overview. Source: Quantify Crypto
Cryptocurrency Market Overview. Source: Quantify Crypto

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

About The Author

Scroll to Top