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Bitcoin Eyes $11,000 As Altcoins Continue To Bleed Against It: Crypto Market Watch

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Bitcoin price has taken an interesting turn today, as the cryptocurrency, for the first time in almost two weeks, broke the resistance levels of $10,200 and $10,500 and is heading for $11,000. At the time of writing, BTC is exchanging hands at $10,779. 

What makes the new bullish run even more interesting is that BTC Dominance, the index which measures its relative share in the overall market cap, has surged to about 66.4%. This has left altcoins hanging in the dry once again as most of them suffer against Bitcoin.

Only ETH and BCH followed Bitcoin in its positive price spike against the USD today while other major coins in the top ten rankings suffered losses between 1% and 2% on the daily chart. 

The total market cap is ~$290 billion | Bitcoin’s market cap is ~$193 billion | BTC dominance at 66.4%

Major Crypto Headlines

The CFTC Fintech Chief Who Oversaw Early Blockchain Trials Is Leaving. Daniel Gorfine, director of the U.S. Commodity Futures Trading Commission’s (CFTC) experimental fintech initiative, has decided to step down from the agency to pursue a job in the private sector. 

Zambia SEC Warns About Investing in Promoted Onyxcoin Cryptocurrency. The country’s regulator has made efforts to warn the country that the “OnyxCoin” cryptocurrency project is not authorized to raise funds from the public or give investment advice both within and outside Zambia. 

Bitcoin Surges $700 as Trump’s Latest China Slam Puts Global Stock Markets in the Red. After U.S. President Donald Trump tweeted that he will impose a 10% traffic on $300 billion worth of Chinese goods, the traditional markets responded with a hard crash and investors seemly are moving to bitcoin and gold as hedges. 

Most Significant Winners and Losers

NOIA Network (67.17%)

Just three days after being listed on CoinmarketCap, NOIA emerged as the most significant gainer in today’s trading session. The NOIA Network aims to use “Segment Routing, IPv6, and Distributed Ledger technology to create a global Software Defined Network (SDN) on the public Internet.” At the time of writing, the token is trading at $0.0895 with a daily volume of $1,310,873, indicating a 67.17% rise against the USD.

1irstcoin (53.80%)

Good news for 1irstcoin (FST) investors as the cryptocurrency hits an all-time high. At the time of writing, 1irstcoin holds a price of $14.54, which is over 5200% gains for investors since launch. This new bullish run has placed the token as the 75th cryptocurrency with the largest market cap, according to Coinmarketcap ranking. FST sits on a market cap of $89,180,060 with a daily volume of $726,458. The project conducted its IEO on the P2PB2B Exchange last week, and this could be the reason for the recent surge in value. 

Cryptaur (-44.35%)

With losses of over 44% against the USD, Cryptaur (CPT) is the biggest loser in the market today and is currently trading at $0.001166. Today is just another bad day for CPT investors. The token holds a market cap of $10,075,565 with daily volumes hovering around $698,006 across all exchanges.

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