- Bitcoin Has Started Trading Sideways Again After Recovering Over $10,300
- Bitcoin (BTC) Dominance Drops to 67 Percent as Altcoins Skyrocket
- Ethereum (ETH) Is Continuing Its Bullish Movement As Bitcoin (BTC) Shows Sideways Movement.
Bitcoin News Today – After trading sideways for about two days, the price of Bitcoin (BTC) is back over the $10k level. The price of Bitcoin (BTC) is back up and it seems to have found strong support at the $10k range. Yesterday, Bitcoin (BTC) experienced a sharp downtrend that resulted in a decrease of $500. Bitcoin (BTC) was heading south while the majority of altcoins were amassing gains.
The sideways trading behavior of Bitcoin has become a normal operating procedure over the past few months. Long periods of sideways trading paved the way for a sharp decrease in BTC to USD price. BTC to USD price plunged below the $10k level and lost over $500 in just a few hours. However, the digital currency found its way back up and broke over the $10,300 resistance level.
Bitcoin Has Started Trading Sideways Again After Recovering Over $10,300
Bitcoin News Today – According to data from CoinMarketCap, Bitcoin (BTC) has started trading sideways again. The digital currency is currently trading around the $10,150 range. Many analysts have tried explaining why Bitcoin price started losing and gaining a few hundred dollars at irregular intervals within minutes. Some believe that the volatility is caused by margin trading – a very popular trading tool offered by top trading platforms such as Binance.
In a tweet, a Twitter user by the name CryptoSqueeze said:
“The effect of cascading margin calls and stop-loss triggers causing $300 slippage between XBT perpetual swaps on Bitmex vs Spot BTC.”
The recent plunge in the price of Bitcoin (BTC) also resulted in a decrease in its dominance level. Bitcoin’s dominance, which was over 70 percent, has plunged to about 67 percent.
Ethereum (ETH) Is Continuing Its Bullish Movement As Bitcoin (BTC) Shows Sideways Movement
While Bitcoin (BTC) is now consolidating again, the largest altcoin by market cap is continuing its bullish move. ETH to USD price just broke over the $220 mark. At the press time, the price of Ethereum (ETH) is $221 after an increase of more than five percent over the past twenty-four hours.
Ripple’s XRP is one of the top gainers during the recent bull run. XRP took the lead among the top 20 coins in the market with impressive gains. The digital currency still holds the majority of gains it amassed over the past few days, as it is still trading at the 30 cents mark. Another top gainer during the last crypto bull run is Stellar Lumens (XLM). The price of XLM surged by more than 40 percent in just two days. Nevertheless, the digital currency is currently correcting lower and it is down by about 6 percent over the past day.