Bitcoin Doesn’t Break $24k, Terra Classic Stablecoin Surges 70%

After bitcoin (BTC) could rise sharply in recent days, the bulls yesterday at resistance again at $24,000. What is the price now? You can also read in this market update who the biggest risers and fallers were in the past 24 hours.

Bitcoin price cannot break $24,000

On Wednesday, bitcoin started a decent increase. This increase started after the US Federal Reserve announced it was going for a small rate hike. This was received positively, resulting in a bitcoin price increase of more than 6%.

As a result, bitcoin managed to surge to a peak of $24,200, its highest price since August last year. However, at $24,000, the increase was forced to halt. This resistance zone held, after which the price returned to the support of $22,500 fell. From here a new attack on the $24,000 was launched, unfortunately again in vain.

At the time of writing, the bitcoin price is $23,391 on crypto exchange Coinbase, down 1.7% from 24 hours ago. This means that the bitcoin price in euros is now 21,461 euros on Bitvavo. The total value of BTC is $450 billion, which represents 42% of the total crypto market.

Top 10 crypto: Ethereum, cardano, XRP are all not rising

So where bitcoin encounters resistance, it is no different with most other major crypto. There are no climbers to be found within the top 10. Ethereum (ETH) fell 1.7% and BNB Coin (BNB) 2.1%.

The altcoin that fell the least hard (apart from the stablecoins, of course) was cardano (ADA). The number 8 is down 0.4%. The hardest faller is polygon (MATIC) with a drop of 4%.

These were the biggest crypto gains and losses: USTC +70%

Looking at the rest of the market, there are a number of notable risers. Of the top 100 cryptocurrencies, Terra Classic USD (USTC) is the biggest gainer. The stablecoin completely collapsed last year, but partly due to initiatives by the Terra Classic community, there is a glimmer of hope. Thus, Binance reportedly removed it warning label at the stablecoin. This turned out to be the start of a major rally. USTC is up no less than 70% over the past 24 hours.

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The second fastest climber is Terra Classic (LUNC), which also enjoys positive influences within its community. LUNC rose 18.5%. The third fastest riser is EthereumPoW (ETHW). This is a fork of the Ethereum network that is still on the proof of work (PoW) mechanism rotates. ETHW is up nearly 17% over the past 24 hours.

The hardest faller is dYdX (DYDX), the 83rd largest crypto on the market. DYDX is down 10% in the past 24 hours. Aptos (APT) also saw a red day, falling 7.5% in value. APT has of course already experienced a bizarre increase and a correction was therefore to be expected.

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