Markets
Bitcoin Price Strong at $64,000 as Cardano (ADA) Rises 4% Daily: Weekend Watch
The cryptocurrency market today is painted green with most coins trying to recover.
However, it is too early to tell if the worst is behind us, and the gains over the last 24 hours are rather modest compared to the previous decline. Let’s look.
Bitcoin Price Solidifies at $64,000
Like CryptoPotato reported Yesterday, BTC fell to $63,400, marking a 5-week low amid a turbulent and declining crypto market.
It appears however that over the last 24 hours the bulls have managed to regroup and have so far halted the decline. BTC is trading at around $64,000.
That said, the derivatives market has also cooled. Total liquidations for the past day are around $27 million, which is low compared to previous days.
The long/short liquidation ratio is also in balance, indicating that buyers and sellers are currently trying to reestablish their positions.
Altcoins recover, ADA soars 4%
Altcoins are also preparing for a recovery, with most of them trading in the green today, although they are seeing rather slight gains.
For example, XRP only increased by 0.6%, SHIB by 1.3%, SOL by 0.5%, ETH by 0.86%, and so on.
There are of course certain exceptions. Cardano (ADA) rose as much as 3.7% in the last 24 hours, becoming one of the top performers.
Toncoin (TON) exploded by 6% and is the first large-cap altcoin. Other notable gainers on this list include AVAX, up 3%, PEPE – up 4.12%, and MATIC – up 3%.
Among the top 100 cryptocurrencies by total market capitalization, the best performing is JASMY, up 11%. It is followed by BRETT and Kaspa (KAS), which are both up 7.7%.
On the other end of the spectrum, there is Fetch.AI (FET), which is down 4.4% and is the worst performer over the past 24 hours.
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Cryptocurrency Charts by TradingView.