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Bitcoin Remains Calm While Binance Coin Surges 20% and Eyes $30 (Market Watch)

After marking another price increase from $10,640 to $10,860, Bitcoin has slowed down around $10,750. Most larger-cap alts have remained relatively calm on a 24-hour scale. Binance Coin is once again the exception and BNB nears $30.

Bitcoin Trades Around $10,750

As Bitcoin failed to reclaim $11,000 yesterday, the asset headed downwards and dipped to $10,660. In the past 24 hours, the primary cryptocurrency registered another bottom at $10,640.

However, BTC refused to stay down, and the bulls drove the price towards its intraday high of about $10,860 (on Binance). Since then, Bitcoin has retraced slightly and trades just shy $10,750.

The technicals indicate that BTC has to overcome the first resistance at $10,830 to potentially challenge the next one at $11,000. Should the asset conquer even that psychological line, the following resistance will be at the 0.5 Fibonacci level at $11,150.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

As reported yesterday, Bitcoin displayed minor signs of decoupling from other financial markets. However, BTC returned to a similar price trajectory with gold in the past 24 hours. The precious metal also increased from a low of $1,875/oz to a daily high of nearly $1,900 and retraced to $1,890.

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At the same time, Wall Street marked minor losses during yesterday’s trading session. The S&P 500 and the Dow Jones Industrial Average closed down with a 0.5% decline, while Nasdaq went down by 0.3%.

BNB Rockets, While Most Large-Cap Alts Keep Calm

The second-largest cryptocurrency has increased by about 1%, and ETH trades at $355. Ripple and Bitcoin Cash are situated at approximately the same levels as yesterday – $0.241 and $230, respectively.

Polkadot and Chainlink have lost the most value – 3%. DOT has fallen beneath $4,50, and LINK below $10.

The most impressive gainer from the top 10 is once again Binance Coin. BNB has jumped by another 5.5% since yesterday and is up by 20% in a week. The latest gains come after the leading cryptocurrency exchange announced the “first-ever project to double launch” – AlphaFinanceLab.

Binance will start recording BNB holdings today, which prompts users to purchase more, and ultimately drive the price higher.

Cryptocurrency Market Overview. Source: coin360.com
Cryptocurrency Market Overview. Source: coin360.com

Further gains are evident from lower-cap coins. The Midas Touch Gold has doubled-down on its recent impressive performance and has surged by another 19%. Zilliqa (16%), Energy Web Token (12%), THETA (11%), and Siacoin (10%) have also increased by double digits.

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Cryptocurrency charts by TradingView.


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This article was originally published on CryptoPotato

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