After circling around the $10,600 support for most of yesterday, Bitcoin’s price spiked to above $10,700 but failed to breakthrough to $10,800.
Bitcoin’s (BTC) price failed to break through the $10,800 area, resulting in the OG cryptocurrency plunging back below the $10,700 area while most of the major altcoin markets saw losses.
Bitcoin price fails to breakthrough to $10,800
Yesterday saw bitcoin hold on to a key support price area just above $10,600. At one stage the world’s number one crypto saw an intraday high of $10,761 with many analysts calling for a breakthrough to the $10,800 price point. However, BTC failed to break through to the next support and as a result, Bitcoin’s price endured a downward correction to below $10,600.
At the time of writing, BTC is however up by a modest 0.56% and changing hands at $10,651.16 as per data from CoinMarketCap.
Despite this lackluster daily performance, Bitcoin’s price is up by more than 10% over the past week. According to several analysts, Bitcoin has entered its next bull run.
Moreover, Bitcoin’s market dominance has continued to impress as it broke the 71% rate of the market share late yesterday. At the time of press, Bitcoin’s dominance is sitting at an astounding 71.5% of the market share as per data from CoinMarketCap.
Altcoin markets waning again
Ethereum (ETH) the world’s number two cryptocurrency by market cap endured yet another modest loss, dropping by 0.46% and trading at $174.94. Ripple’s XRP, the number three cryptocurrency has also seen a modest loss of 1.07%, exchanging hands at $0.256487 per coin.
Bitcoin Cash (BCH) is also down by a tepid 0.36% and trading at $293.71, Litecoin (LTC) continues to dwindle, dropping by 1.38% and selling for $66.33 at the time of writing, while Tether is down by 0.37% and trading at $0.998531.
The only two top ten cryptocurrencies which are flashing green today besides Bitcoin are Binance Coin (BNB) which after several days of minor losses is recording a 2% gain and trading at $22.31.
The only other altcoin which is flashing green today is Monero (XMR) which is up by 2.70% and being bought for $76.85 per coin.