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Market Watch: Despite Wall Street, Bitcoin Holds Above $30K So Far



Bitcoin has reclaimed the $30,000 price tag after another brief drop beneath it yesterday. Most alternative coins have also bounced off the lows as ETH has neared $1,300, while UNI jumped to a new all-time high.

Bitcoin Swings Around The $30K

Following an unsuccessful attempt to overcome $35,000 earlier this week, bitcoin started to gradually decrease in value. The adverse movements culminated in another price drop beneath the psychological $30,000 level, as CryptoPotato reported yesterday.

Shortly after the dip, though, the bulls took charge and drove the asset upwards. Following a few rejections, the cryptocurrency finally managed to reclaim $30,000 and currently trades just north of $31,000.

From a technical perspective, BTC’s most significant support level remains at $30,000. Should the asset break down below it once more, the following ones are at $29,630, $28,500, and $28,000.

Alternatively, if bitcoin resumes its bull run, it would have to overcome the resistance lines at $32,500, $33,100, and $34,000.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

BTC’s decline yesterday coincided with substantial losses on Wall Street. The three most prominent US stock indexes, namely the S&P 500, Nasdaq, and Dow Jones, dropped by over 2% in a day.

However, the Nasdaq futures contracts have added 1% after hours, while the Dow and the S&P 500 have continued with indecisive movements.

Stagnant Altcoins, Exploding UNI

Most alternative coins also dipped in value similarly to bitcoin yesterday. On a 24-hour scale, though, most top ten coins have shown signs of recovery.

Ethereum is slightly up but still trades around $1270. Binance Coin (1.7%), Polkadot (3%), Cardano, and Litecoin (1%) are essentially at the same price spot as yesterday.

Chainlink is the most significant gainer from the top ten with an 8% surge to $23.3. In contrast, XRP and BCH have lost the most and are down to $0.25 and $387, respectively.

Cryptocurrency Market Overview. Source: TradingView

Dogecoin has gained the most with a 37% surge, followed by 1inch (25%), THORChain (21%), Fantom (19%), Elrond (16%), and Kusama (13%).

Uniswap’s governance token has also added value and reached a new all-time high above $15 earlier today.

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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.

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