After a strong day yesterday, Bitcoin (BTC) is struggling again today. After the opening bell on Wall Street, the price took a sharp dive. As we have seen for a long time, this causes even greater losses on the altcoin market.
In this price update we will tell you exactly what the current state of the crypto market is.
BTC appears to be forming bullish pattern
Yesterday, the Bitcoin price recovered by more than 6 percent after reaching the lowest level since April last year of less than $ 75,000 late in the night.
The increase stopped just above $ 79,000 and today it was not possible to go any further. Bitcoin has mainly moved sideways just above $78,000, but continued lower after the US stock markets opened.
The price held steady above $77,000 and is now back at $78,000. If this was the bottom, Bitcoin could form an inverse head and shoulders pattern on the 4-hour chart.
That’s a bullish pattern that shows sellers slowly losing control. If the $79,000 is broken, the price could shoot further to $83,000.
At the time of writing, the BTC price is at $77,941, 1.11 percent lower than 24 hours ago. In euros, 65,976 are now paid for the largest cryptocurrency.
Ethereum is hitting hard
Lately we have seen more and more that Ethereum (ETH) takes a much harder hit when Bitcoin takes a step back. The same goes for today.
The altcoin king has now also rebounded, but is still at a loss of 2.63 percent. That is three times worse than Bitcoin.
Furthermore, Ripple (XRP) is down 1.44 percent, Solana (SOL) is down 2.13 percent and Cardano (ADA) is down 0.56 percent.
The biggest climbers
Below are the biggest top 100 risers of the past 24 hours:
The biggest losers
Below are the biggest top 100 decliners of the past 24 hours:
Source: https://newsbit.nl/crypto-koersupdate-bitcoin-daalt-en-sleurt-ethereum-hard-omlaag/
