Crypto price update: again no breakthrough for Bitcoin
Bitcoin has been rejected for the umpteenth time around $87,000, while HYPE and Cardano are increasing in value. Read more.
Bitcoin (BTC) continues to hit its head around $87,000. Last night, the course here was already fiercely rejected and this afternoon it went wrong again. It turns out to be quite a task to break this sales wall and the rest of the market suffers as a result.
In this price update, we will tell you exactly how the market is currently doing.
It is almost impossible to keep track of how often Bitcoin has been crushed by the resistance around 87,000 dollars. And almost every time there is a sharp drop.
It was hit again last night. In a few hours, Bitcoin lost 1.8 percent of its value: the price fell from 87,000 to 85,400 dollars. After that, the price scaled up to 86,600 dollars, but it is now back to square one. A new drop of 1.6 percent has brought Bitcoin to a low of $85,200.
If this results in a larger decline, the rising trend line will be an important test. If Bitcoin falls below that, it can become a larger correction. If the line holds, the hope remains that the resistance will still fall. The good news: a level usually weakens the more it is tested.
On the daily chart, Bitcoin is now 1.42 percent down, while Wall Street is just turning red. According to analyst Ted, someone on Binance could be responsible, with a Bitcoin sale worth $40 million.
At the time of writing, the Bitcoin price is at $85,225, 0.12 percent lower than 24 hours ago. In euros, 76,088 are now paid for the largest crypto.
The Bitcoin dump has also wreaked havoc on the altcoin market. Although there are still enough coins that are at a higher price than yesterday.
Within the top 20, Hyperliquid (HYPE), Cardano and NEAR Protocol (NEAR) stand out with gains of 3.19 percent, 6.35 percent and 4.10 percent respectively. A few hours ago, the coins were just a little better.
The big boys all turn red. Ethereum (ETH) is down 0.13 percent, Ripple (XRP) 0.89 percent and Solana (SOL) 1.87 percent.
If Bitcoin loses its upward trend, it will be difficult for the rest of the market to escape a correction. For the time being, Bitcoin and most other coins remain trapped in the range of the past two weeks.
Below are the biggest top 100 risers of the past 24 hours:
Below are the biggest top 100 risers of the past 24 hours: