Bitcoin continues to trade sideways within a well-defined range between $83,000 and $85,000, with the former providing strong support after another dip earlier today.
Most larger-cap alts are slightly in the red today as well, with ETH sliding below $2,700 again, while LINK has plummeted by over 7%. NEAR and QNT are in the green again.
BTC Consolidation ContinuesLast week was a lot more eventful for the primary cryptocurrency, especially its start. BTC stood at $80,000 last Monday before it exploded by seven grand in less than 12 hours and topped $87,000 to mark an eight-month peak. Although it was stopped there at first, the bulls initiated another leg up a day later, which resulted in it touching the same local high.
However, the bears finally stepped up at this point and didn’t allow another breakthrough attempt. Just the opposite; BTC started to correct hard and slumped to $83,000 within 24 hours. Since then, it has been mostly sideways trading between $83,000, which serves as the lower boundary of this range, and the upper one at $85,000.
The lower boundary has come under fire a lot more in the past several days, including a couple of dips to $82,400. Nevertheless, it has been able to hold strong, at least for now. The latest rebound came earlier today when bitcoin dropped to $82,850. It trades almost a grand higher now, but it’s still slightly in the red on a 24-hour scale.
Its market capitalization remains at around $1.680 trillion on CMC, while its dominance over the alts is at 58.6%.
BTCUSD September 30. Source: TradingView Big Altcoin GainersETH was stopped at $2,700 once again and now sits slightly below it after a 1% daily decline. BNB is down to $764, while XRP fights to stay above $1.50. Yesterday’s high-flyer LINK is down by over 7% now and sits below $14.5 after some profit-taking from investors. CRO, ONDO, BTW, CC, HBAR, and LIT are also well in the red, some by double digits.
In contrast, QNT has rocketed by 13% once again, currently trading at $290. PUMP has pumped by 15% as well and now sits close to $0.006. NIGHT is today’s top performer, jumping by over 17.5% to $0.035.
The total crypto market cap has declined slightly and sits at $2.870 trillion on CMC.
Cryptocurrency Market Overview September 30. Source: QuantifyCrypto
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