Bitcoin price and most Altcoin have registered minor losses in a day, more gains are evident from BakeryToken (90%), Nano (40%)

Bitcoin price and most altcoins have recorded small losses during the day. Not ETH, though, which came just $ 40 away from touching $ 3,000. After hitting a new two-week high of more than $ 58,500, Bitcoin has dropped slightly and is now trading around $ 57,000. Most altcoins have also marked small losses on a 24-hour scale. Ethereum is among the few exceptions as ETH is closing below $ 3,000.


BTC/USD 4-hour chart | Source: TradingView

Bitcoin price is struggling at $ 56,000 – $ 57,000

Bitcoin has finally made more decisive moves upwards. After trading in a range of around $ 54,000, bitcoin has started an impressive move that led to an increase of $ 4,000 in value in a day to a high of $ 58,500. This has become the highest price of the asset since the mid-April crash across the market.

However, this is where the bears stepped in again and did not allow for any further rises. In the hours that followed, bitcoin fell by more than $ 2,000, resulting in a drop to just over $ 56,000. Despite some losses, BTC is still down more than 2% on a 24-hour scale.

According to technical indicators, Bitcoin’s first hurdle is resistance lines at $ 58,355, $ 59,000, and $ 60,000. Additionally, key support lines at current levels are $ 56,950 – $ 57,000, which is the 50-day moving average, followed by $ 56,200 (20-day MA, retested early this morning). Further down is that the previous $ 55k resistance has turned into support.

Lately, most altcoins are on the rise with dramatic gains and dissipate a large portion of bitcoin’s dominance in the market. However, they have calmed down as well over the past 24 hours. Binance Coin fell 4% to just over $ 600 after registering an all-time high yesterday at around $ 645.


Source: Coin360

Ethereum is also green with a 2% gain on a 24-hour scale. ETH has only achieved $ 40 since hitting another milestone yesterday at $ 3,000. More increases can be seen from OKB (45%), BakeryToken (41%), Nano (22%), Huobi Token (15%), Fantom (13%), Ethereum Classic (12%) and Solana (10 %).

In the end, the cumulative market cap of all crypto assets has lost about $ 30 billion but is still above $ 2.2 trillion.

You can see the BTC price here.

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