As an analyst with over a decade of experience in the financial markets, I must admit that the current calmness in the cryptocurrency market is somewhat refreshing. It’s not every day we see such stability, especially when it comes to Bitcoin flirting with $60K.
Over the past day, the crypto market has been fairly steady, with many coins showing little change in value. The combined worth of all these digital currencies stands at approximately $2.2 trillion at present.
Bitcoin’s Price Flirts With $60K
Over the last day, the price of Bitcoin didn’t show much fluctuation. At a certain moment, the sellers aimed to drive its value down to around $59,500, but the buyers swiftly responded and managed to regain control over the market, pushing it back above $60,000, where it now stands.
To sum up, the past week has been marked with optimism regarding BTC as its value surged over 10% higher.
In the derivatives market, there’s a noticeable scarcity of forced sales or ‘liquidations’, as indicated by the current figure of around $43 million. The majority of these liquidations are tied to Bitcoin and Ethereum transactions.
Altcoins Calm Down
On Saturday, as noted earlier, the altcoin market generally stayed steady, showing only minor fluctuations for most coins.
Here’s a possible paraphrasing: To illustrate, Ethereum (ETH) saw a 0.5% rise, Binance Coin (BNB) dipped by 0.8%, Solana (SOL) went up by 0.3%, and so on. However, Polkadot (DOT) performed better, experiencing nearly a 3% increase.
Yesterday’s top performer was Celestia, with a rise of 10.6%, and closely followed by the Artificial Superintelligence Alliance (FET) at an increase of 6%.
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2024-09-15 12:02