Home cryptopedia Bitcoin Dormant at $30K While Ethereum Classic (ETC) Pumps 10%: Market Watch

Bitcoin Dormant at $30K While Ethereum Classic (ETC) Pumps 10%: Market Watch

by cryptolovers


Bitcoin recovered most losses from yesterday’s dip below $29,000 but failed at $30,000 once again. The altcoins have continued to trade sideways with a few notable moves in either direction. Ethereum Classic stands out as the most significant gainer.

Bitcoin Back Below $30K

The primary cryptocurrency has had its issues with the coveted $30,000 line for over a week now. It made several attempts to overcome that line but was met with rejection every single time, which pushed it south by up to a few thousand dollars almost immediately.

The latest such example came earlier this week when BTC pumped to $30,600. The same scenario followed, and the asset plummeted by precisely $2,000 to a low of $28,600.

Nevertheless, the bulls stepped up and drove it upwards once again. For a brief moment, BTC surpassed $30,000 once again but now stands just under it.

As such, its market capitalization has gone back down to $565 billion, while the dominance over the altcoins has increased slightly to 44.7% on CoinMarketCap.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

ETC Stands Out

The altcoins have calmed as well recently. Ethereum, for example, has followed bitcoin’s price movements to a large extent. ETH’s major line that it fails to overcome decisively is $2,000.

It jumped above that level two days ago but dipped below it yesterday and has remained there now as well after a minor daily retracement. Ripple, Cardano, Solana, Dogecoin, Avalanche, and Shiba Inu are also slightly in the red.

Binance Coin has sustained above $330 following a minor increase. Tron has jumped the most from the larger-cap altcoins, with a 4.4% pump to $0.08.

While most lower- and mid-cap altcoins are in the red as well, Ethereum Classic has defied the odds with a 10% increase in a day. Consequently, ETC now stands close to $25. The crypto market cap has stalled below $1.3 trillion.

Cryptocurrency Market Overview. Source: Quantify Crypto
Cryptocurrency Market Overview. Source: Quantify Crypto
SPECIAL OFFER (Sponsored)

Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.

Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.



Crypto Team

You may also like

Leave a Comment

logo

cryptohunter.store is the Best News and trends about crypto world. Info & Trends Crypto » Info & Trends Crypto – Bounty, Shiller & Airdrop

For Advertise and Shilling 

Please Contact us

©2022 All Right Reserved Info & Trends Crypto » – Bounty, Shiller & Airdrop – .Developed by cryptohunter