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.

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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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