Bitcoin (BTC) managed to reach a new peak last night. However, there was no further outbreak. Instead, the battle between the bulls and the bears currently largely in equilibrium, with the bitcoin price continuing to trade mostly sideways today. With the altcoins, however, we still find some big risers. Who is the biggest climber of the past 24 hours?
Bitcoin (BTC) bears and bulls frolic, $60,000 gets closer
After bitcoin peaked at $58,250 early this morning, it has remained relatively quiet for the rest of the day. The spike marks the highest price since May this year. A small retreat and increasing red trading volume later, bitcoin is currently at a price of $57,800 on crypto exchange Coinbase.
There has been a small increase in the past hour after the support tapped at $57,000. The big obstacle on the way to $60,000 is therefore at $58,000. Above, $60,000 is likely to be in sight pretty soon, should the bulls push bitcoin convincingly and on volume.
Tempting Beef, an analyst and trader on Twitter, notices that the whales liquidations and stop losses only too happy to munch on:
Whales eat liquidations and stops hom nom nom pic.twitter.com/bXl09RpPDo
— Tempting Beef (@tempting_beef) October 14, 2021
Altcoins are attracting with polkadot (DOT) leading the way
Lately, it has been mainly bitcoin that managed to set good increases. Many altcoins could not hook up and just bled. That picture is now changing somewhat. Where bitcoin has risen 2.6% in value over the past 24 hours, a number of top 10 altcoins are in a much better position.
Ethereum (ETH) is up close to 10% and approaching USD 4,000. Binance coin (BNB) and cardano (ADA) can also keep up and are 3.9% and 4.2% in the plus, respectively. The biggest climber in the top 10 is polkadot (DOT). The number 8 is 16% in the plus. DOT is also the fastest climber of the entire top 100. Is that because of this news?
All cryptocurrencies combined are now worth $2.4 trillion, an increase of 3.9%. We do, however, see bitcoin’s dominance decrease slightly due to the emerging altcoins. Bitcoin’s market cap now makes up 45.2% of the total, down 0.7%.