Bitcoin hit an all-time high of $ 24,300 before losing as much as $ 1,000 in value. Bitcoin Cash rose to a 10-month high of $ 375. Most altcoins, with the exception of Bitcoin Cash, have been quiet in the past 24 hours. In our detailed review of the crypto money market.
New ATH from Bitcoin
The last few days have experienced a rapid rise for the leading cryptocurrency. After finally surpassing the conspicuous $ 20,000 price level, it continued to move forward and outperformed all-time highs one by one throughout the week. He entered the weekend in consolidation mode, but it didn’t last long. Yesterday, BTC lost nearly $ 1,000 in value in an hour.
The bulls, however, stopped the movement and did not allow further declines. On the contrary, Bitcoin recovered its losses fairly quickly and set higher targets again. This resulted in a new all-time high record of $ 24,300 (on Bitstamp) just a few hours ago.
Yet as with previous moves, BTC was denied at this level and dropped to $ 23,100 with a loss of over $ 1,000. However, the asset regained value and approached $ 24,000 again. As you can see, it was a very active weekend for Bitcoin.
Technical indicators show the initial resistance levels at $ 24,200, $ 24,500 and $ 25,000. On the other hand, support levels are located at $ 23,000, $ 22,250 and $ 21,400.
Calm Altcoins (Excluding BCH)
Most altcoins have followed BTC’s recent price developments. Ethereum dropped from $ 660 to $ 620 within minutes and then rose again to $ 640. Ripple fell from $ 0.585 to $ 0.535 and is currently trading at $ 0.555. On the 24-hour scale, both are colored red.
Chainlink (-2%), Polkadot (-2%), Cardano (-0.6%) and Litecoin (-5%) also fell. Binance Coin increased 3% and approached $ 35. However, Bitcoin Cash surpassed the top 10 cryptocurrencies with an impressive 15% increase. As a result, BCH rose as high as $ 375 a few hours ago. This was the highest price level BCH has seen since February 2020.
If we look at lower volume altcoins: Dash (7%), Ethereum Classic (6%), Bitcoin SV (6%), EOS (5%) and Siacoin (5%) are the gainers. In contrast, SushiSwap (-5%), Aave (-5%), Horizen (-5%), and Celo (-4.5%) were the ones that lost the most in a day.