Bitcoin price and Ether continued their recent stationary ways, albeit more in the red. At the same time, several Defi tokens declined later in the day after rising early as investors fretted anew over new housing data and ongoing macroeconomic uncertainty. At the time of writing, BTC is changing hands at $19,038.
BTC/USD 4-hour chart | Source: TradingView
Bitcoin Price Hovers at $19,000 to Remain Within Current Range
Bitcoin and ether were flat, and Defi tokens were up amid moderate trading volume as investors continued their fretful watch of wider economic indicators. The Defi token rally was a rare exception in a market that has been moving sideways for weeks.
Bitcoin was recently trading just under $19,000, off 1.5% and just below the lower end of the $19,000 to $21,000 range that the largest cryptocurrency by market capitalization has occupied for more than a month. Bitcoin continued to trail its 20-day moving average, clear evidence of the bear market’s resiliency. BTC is roughly where it stood 24 hours ago, and toward the bottom of the $19,000 to $21,000 range, the largest cryptocurrency by market capitalization has occupied for more than a month.
“Bitcoin’s social dominance has factored in for ALL of the crypto, and whether prices move up or down. Green zones show when convos related to BTC exceed 20% of asset discussions. Prices generally climb. Red zones are below 20%, and prices generally fall”, Santiment added.
Ether was recently changing hands at $1,273, down 2.4% from Tuesday, the same time, and beneath its $1,300 bottom support for much of the past month. Ether has also continued its recent trend of trading below its 20-day average. It was recently changing hands just below $1,300 and near its bottom support for much of the past month.
“Since September 11th, Ethereum billionaire whale addresses holding 1M or more ETH have collectively added 3.5M more coins. This has increased their cumulative bags by +14%. There are currently 132 such addresses in existence”, Santiment reported.
Other altcoins were recently down, with XRP, ADA, and CRO all off well over 2% from a day earlier. Even UNI, which jumped 3.5% at one point and was up 9.5% over the past seven days, was in the red later in the day. The top altcoin gainers recently were AAVE and MATIC, which both climbed more than 3%. Uniswap’s UNI token rose 3.5% at one point and was up 9.5% over the past seven days. On Oct. 13, Uniswap, the decentralized exchange behind the token, announced that it had raised $165 million in a Series B funding round led by Polychain Capital.
Read more:
- Financial Institutions Moved 48,000 Bitcoin From Coinbase; Historically This Signifies A Price Surge
- Bitcoin Price And Altcoins Point Upward Amid A Renewed Embrace Of Riskier Assets
- Investors Can Track Bitcoin Whale Transactions To Derivatives Exchanges To Mark Market Bottoms