Bitcoin Mimics Wall Street and Climbs Above $10,800 as Altcoins Rejoice (Market Watch)

Bitcoin Mimics Wall Street and Climbs Above $10,800 as Altcoins Rejoice (Market Watch)

Despite briefly dipping to $10,660, Bitcoin has slightly increased in value since yesterday and trades above $10,800. At the same time, Ethereum has spiked by about 2% to above $360, while more volatility is evident from lower and mid-cap altcoins.

Bitcoin To Above $10,800

After an unsuccessful attempt to conquer $10,800 yesterday, Bitcoin headed south and bottomed at about $10,660. However, the bulls intercepted the brief price dip and didn’t allow further declines.

Just the opposite, BTC started accelerating again and reached its intraday high of $10,850 (on Binance). Although the asset has decreased slightly, it’s still about 1% up on a 24-hour scale, and it hovers around $10,800.

From a technical standpoint, Bitcoin has to overcome the first resistance at $10,840 before heading towards the psychological level at $11,000. Alternatively, the primary cryptocurrency could rely on $10,680, and $10,570 as support in case of a price breakdown.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

Bitcoin’s increase seems to be a correlation with the US stock market. The S&P 500, the Nasdaq Composite, and the Dow Jones Industrial Average all closed yesterday’s trading session with about 1% gains.

However, gold demonstrated untypically high volatility. The precious metal spiked from $1,880 to $1,900, dropped back down and repeated the move once again in a matter of hours. On a 24-hour scale, though, gold has decreased by about 0.5%.

Ethereum Rises Above $360, Cardano Back To Top 10

Ethereum has finally increased above $360 after a near 2% jump. Ripple and Bitcoin Cash marked minor gains and are situated approximately at the same levels as yesterday – $0.241 and $228, respectively.

The most impressive performer from the top ten is Cardano. By increasing with 5% to over $0,10, ADA has actually surpassed Crypto.com Coin for the coveted 10th spot.

Cryptocurrency Market Overview. Source: coin360.com
Cryptocurrency Market Overview. Source: coin360.com

Monero is the only top 20 coin that has surged by a double-digit percentage. XMR has jumped by 12% and trades at $110. On a weekly scale, Monero is up by 25%.

Further double-digit price increases come from lower and mid-cap altcoins. DigiByte leads by a 16% surge, Maker (13%), Zcash (11%), Swipe (11%), DFI.Money (11%), Algorand (10.5%), and Zilliqa (10%) follow.

On the other hand, The Midas Touch Gold has lost the most value since yesterday – 15%. THETA (-7%), Hyperion (-6.5%), Energy Web Token (-5.5%), and Uniswap (-4.5%) follow.

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