Bitcoin (BTC) recovered strongly yesterday, but today it is not really possible to make any progress. The price has clearly encountered resistance and the question now is how it will respond. In any case, the price is still higher than yesterday, but most altcoins are still able to surpass this.
BTC is hitting the sales wall
This morning you could already read about Bitcoin’s impressive recovery. The price reached $116,000 overnight, an increase of 4.5 percent compared to Sunday’s $111,000.
There is plenty of movement in the race today, but no progress is being made. By early afternoon it slipped to $114,300, then recovered to $115,500 and is now sitting around $114,500.
$117,000 is now the key level to regain. If that doesn’t work, Bitcoin could go back to $113,000 or even $110,000.
But for now it is not surprising that it takes a while to catch its breath. On Friday evening, the largest crypto could be picked up on the crypto exchange Binance for $102,000.
In particular, developments in the newly flared trade conflict between the United States and China are now having a major impact on price action. We must especially hope that Donald Trump’s 100 percent import tax will not be introduced as of November 1. That chance is only 13 percent if the crypto prediction platform Polymarket is to be believed.
At the time of writing, the Bitcoin price is at $ 114,521, an increase of 1.39 percent compared to 24 hours ago. In euros, 98,977 are currently paid for the cryptocurrency.
Plenty of green with Ethereum, XRP and Cardano
We see plenty of green on the altcoin market. Most cryptos are in better shape than Bitcoin and so the market share of the crypto king has shrunk somewhat.
Ethereum (ETH) is up 2.70 percent and is now selling for $4,141. If we zoom out, it still looks very good on the graphs. After years, the price has broken out of a symmetrical triangle and this decline was only a healthy retest of that pattern.
Ripple (XRP) rose by 4.09 percent, Solana (SOL) by 3.48 percent and Cardano (ADA0 even by 5.85 percent.
The biggest climbers
There are plenty of coins that show very nice profits. Below are the biggest risers from the top 100 over the past 24 hours:
| Cryptocurrency | Increase in last 24 hours |
|---|---|
| Synthetix (SNX) | +85.37 percent |
| Story (IP) | +20.02 percent |
| Bittensor (TAO) | +13.13 percent |
| Render (RENDER) | +11.82 percent |
| World Liberty Financial (WLFI) | +11.78 percent |
Synthetix’s leap is of course extraordinary and we wrote about the underlying reasons for this in an earlier article.
The biggest losers
There are actually very few coins that turn red today. Below are the biggest decliners from the top 100 over the past 24 hours:
| Cryptocurrency | Decrease in the past 24 hours |
|---|---|
| Artificial Superintelligence Alliance (FET) | -5.51 percent |
| Plasma (XPL) | -4.26 percent |
| Pump.fun (PUMP) | -4.15 percent |
| Zcash (ZEC) | -3.63 percent |
| Dash (DASH) | -2.83 percent |
Source: https://newsbit.nl/crypto-koersupdate-bitcoin-stuit-op-weerstand-breekt-het-herstel/
