Friday in the fintech field of crypto, Bitcoin (BTC) was on its way down about $2,000 going into the new day, when a magical line of support at $32,200 gave BTC a demonstrative push that sent the price soaring on a one-way, rocket-like trajectory all the way up to the $38,500 level. The price increase was an unexpected one for BTC, happening within the first quarter of a roller coaster type of day. The pump, which seems to have been triggered by external forces contributing to BTC’s bullish thesis, was short-lived, however. On its first rejection on the way to $39,000, BTC got sent back down to about $34,500 before finding support, albeit not as sharply as “Bit” had risen. From there, BTC tried to get back up but was limited to trading sideways for a short while, fluctuating up and down in shallow price spurts along the way, until the $34,700 area got the best of the asset. From there, BTC dropped to $33,300 before the bulls stepped in and gave it a boost back up to around $34,000 going into Saturday, ending a volatile day for BTC to say the least. After all was said and done, BTC went into the weekend up 4% for the week. Bitcoin dominance, meanwhile, has risen by .7% since the previous day and is currently at 62.3% against the entire crypto sector.
Like BTC, Ether (ETH) was in a selloff when the clocks turned Friday, but found a bottom at $1,300 right as the day began, like a magical alarm had rung. The sound must have been music to ETH’s ears, because the tune sent the asset’s price soaring, around the same time BTC did, all the way to $1,428 in a steep and rapid price increase. Like “Bit” brother, however, ETH was to come back to earth, finally finding support at around the $1,350 levels where the bulls were ready for some more action. In an action reaction, ETH started rising rapidly again, this time falling just short of $1,400. The next rejection sent ETH back to where it just came from, the $1,350 level, but more gradually and less rapidly. From there, ETH traded mostly sideways for the remainder of the night, retiring just above $1,300 going into Saturday. Now up 9% for the week, ETH is still up 80% for the month.
While BTC and ETH were getting tossed around like a rag doll on Friday, the altcoin sector was less erratic than usual, with only about a dozen coins from the Top-100 ending the day up in double-digit percentages. While most of the tokens took a step back while BTC and ETH stole the show on this day, the entire crypto sector as a whole got stronger, now well up above $1 trillion in total marketcap. Amid the historically hysteric day for BTC, the double-digit gainers from the Top-100 were as follows, in order of larger-sized marketcap assets first: Compound (COMP) went up 25%, Sushi (SUSHI) ~ 16%, Elrond (EGLD) ~ 22%, Thorchain (RUNE) ~ 19%, Decred (DCR) ~ 11%, Voyager (VGX) ~ 34%, Algorand (ALGO) ~ 14%, Alpha Finance (ALPHA) ~ 53% and 1inch (1INCH) went up 29% for the day going into the weekend.
- BitcoinBTCpumpsMassiveFridayOverUSD6kInLessThan6hrsOnlyToGiveMostBackBeforeTheWeekend
- EthereumETHsoarsInPriceFollowingBitcoinLeadOnlyToGetSentBackToWhereETHsDayBeganStillUp80%ForWeek
- AltcoinsTakeItEasyWhileBitcoinEthereumActErraticallyVolatileYetDozenCoinsFromTop100StillEndDayUpInDoubleDigits
https://www.coingecko.com/en