Bitcoin in lateral movement
Bitcoin is able to absorb yesterday’s dumping for the time being and is holding its level above the support level of 9600 USD. Currently the price is at a level of 9639 USD, which corresponds to a daily increase of 0.44%. On Tuesday, it seems that calm is returning. From a bullish perspective, a rare indicator is now providing hope: the Golden Cross.
The golden cross describes a chart situation in which the 50-day line (MA 50 ) and the 200-day line (MA 200 ) cross in a certain constellation (in this case, the MA 50 comes from below). In the past, a golden cross was often the starting signal for a subsequent price rally, statistically speaking, a bullish indicator. Of course there is no guarantee for this.
Obstacles on the way to the magic boundary
Should the bulls again set the tone in the coming hours, the next major resistance would be in the $9850 range. The market cap of just under USD 42 billion remains at a high level, while total market capitalization has fallen by USD 20 billion in the past 3 days. Many reports have reported a comeback of volatility. However, the 30-day average of 2.39% speaks a different language.
The Altcoins are breaking away from Bitcoin on Tuesday and are recording considerable price gains in some cases. Ethereum marches straight towards the 270 USD mark with a daily gain of about 6%. The market cap of around USD 29 billion implies the continued interest of investors. The Altcoins were able to regain important market shares in the past few days, the BTC Dominance Index is currently “only” at 62.5 %. The current market situation shows once again that alternative assets are increasingly able to free themselves from the headlock of the No.1 crypto currency.
Top performer on Tuesday
Tezos consolidates its place in the top 10 with a share price increase of just under 12%. No other coin has performed as strongly as XTZ in the past 30 days. The current market value is now at 3.18 USD. In the top 50 all Altcoins (only exception: Synthetix Network Token) are looking at a positive 24 hour chart.
DeFi loses over 100 million USD in a few hours
The DeFi market is still in the headlines, even if they are negative at the moment.
The assets stored in the DeFi market have fallen by more than USD 140 million within a few hours after the bZX platform suffered a second attack. A few days ago, a special case caused a stir in the crypto space. A user managed to exploit a weakness of the bZx platform in such a way that he was able to earn 1193 ETH (approx. 350000 USD) within a few seconds. Experts argue whether the action was a hack attack or an intelligent plan. A little later a second case became known in which even more money was “captured”.
Total Value Locked in detail
After the DeFi market pulverized the magical USD 1 billion mark at the beginning of the month, reports of recent exploits have caused a loss of about 12%. Despite all this, the Decentralized Finance sector continues to write an impressive success story.