When are the cops gonna catch on?
Once again, the BTC bulls fail at the 12000 USD limit and the rebounds become more violent with each failed attempt. After the failed attack, the price plunges south by almost 500 USD. We could observe a similar behaviour several times at the magic 10000 USD border. The recent dump also pulls a large part of the alternative assets down. In the top 15, only Tezos managed the jump. The “multi-purpose platform” is even flirting with a new all-time high. But first things first…
Bitcoin rate after the dump
At the time of this article, the leading crypto currency is quoted at USD 11409, which represents a daily loss of 4.09%. Now investors are focusing on the trend line at USD 11400. Should this support fail, a fall below the USD 11000 level would be quite conceivable. Upward, the next resistances are at 11600 USD and 11800 USD. It appears that the bulls are unable to push the year high of $12045 higher at the moment. Now we can see how strong the support lines really are.
Altcoins fall with the first mover
Etherum and Co. must follow the Bitcoin on Tuesday. With a price slide of – 3.39 %, the “Smart Contract” coin is leaving the 400 USD range for the time being (current ETH exchange rate: 383.33 USD). The Bitcoin Forks Bitcoin Cash (- 6.85 %) and Bitcoin SV (- 6.71 %) are hit hardest in the Top 20 of the crypto charts. Only Tezos can stay in the green zone.
Tezos scratches the all-time high
Tezos only just missed a new top score in the night to Tuesday. XTZ only missed the previous best performance (4.46 USD) by 5 cents. With a price of USD 4.08 and a market capitalization of around USD 3 billion, Tezos currently ranks 12th in the crypto charts. In the past, Tezos (XTZ) has repeatedly attracted attention with minor price outbreaks. However, Altcoins such as Chainlink and Cardano have dominated the headlines in the crypto space.
After bouncing off the USD 12000 border, the bulls are fighting for dominance. However, repeated failed attempts could cause investors to pull their capital out of the market. A similar behavior could be observed several times this year at the magic 10k mark. On Tuesday, the BTC Dominance Index is at 60.5%. According to this, the first mover can regain small market shares. However, a two-thirds majority is not to be considered. The old coins have been pressing the accelerator pedal for weeks and individual coins are increasingly succeeding in encapsulating themselves.