Wednesday in the whizzing windsurfers of crypto, Bitcoin (BTC) was a few hundred dollars away from reaching $50,000 when the new day began, and wasted no time smashing through that level as it surged with intense momentum. In just the first three hours of the day, BTC went soaring in price, first passing $51,000, then $52,000, and finally stopping short of just $52,500, with no interruptions along its way. In its first major pullback on Wednesday, BTC corrected to around $50,800, but was quick to recover and come back up to $51,600 with a little over half the day still ahead. With a few up-and-downs on its way, “Bit” traded in a tight channel between $51,600 and $50,400 for most of the day. However, in the last quarter (last six hours), a massive sell-off started, dragging BTC down from around $51,500 all the way back down to around $49,200, a price point around which the bulls would finally come to the rescue. By this point, there were only a few hours left to go in the day, time which BTC used to gain back some of its losses, edging closer to $50,000 going into Thursday.
Ether (ETH) was making its way up from $1,575 when the clocks turned Wednesday, climbing as high as $1,650 in the first five hours of the day, like BTC, with no interruptions on the way. After a sell-off that brought ETH back down to around $1,600, the DeFi trailblazer traded sideways for most of the day, trading in a tight channel between $1,600 and $1,550, with multiple up-and-downs in that level along its way. With a few hours left to go on Wednesday, ETH managed to hold support around the aforementioned same price zone going into Thursday.
The altcoin sector was active as usual on Wednesday with its share of double-digit percentage winners. The focus on this segment, however, will be on the top performing assets of the week from the Top-100 by marketcap list, concentrating on only projects that are up over 20% in the last seven days. The following is a list of those biggest gainers in the past week, in order of largest marketcap tokens first: NEM (XEM) is up 51%, Theta Network (THETA) ~ 23%, VeChain (VET) ~ 25%, Synthetix (SNX) ~ 20%, Elrond (EGLD) ~ 27%, Sushi (SUSHI) ~ 20%, Near (NEAR) ~ 26%, xSushi (XSUSHI) ~ 24%, Basic Attention Token (BAT) ~ 53%, Polygon (MATIC) ~ 40%, Enjin Coin (ENJ) ~ 127%, Flow (FLOW) ~ 59%, Bancor Network Token (BNT) ~ 20%, Arweave (AR) ~ 53%, Reserve Rights Token (RSR) ~ 44%, Energy Web Token (EWT) ~ 26% and Decentraland (MANA) is up 57% for the week going into Thursday.
#BitcoinSurgesAlmost$3kInTheFirstQuarterOfTheDayOnlyToGiveBackMostOfItsGainsToCloseWednesdayBackBelow$50kLevel #EthereumETHpriceMovementsResembleThoseOfBTCtradesInTightChannelForMostOfTheDayAfterEarlyVolatility #AltcoinsFromTop100upSignificantlyForWeekIncludeENJ/NEM/BAT/MATIC/FLOW/AR/RSRandMore
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