Markets
Bitcoin Price Holds Solid at $64,000 as Cardano (ADA) Rises 4% Daily: Weekend Watch
Today the cryptocurrency market 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 in the last 24 hours are rather mild compared to the previous decline. Let’s take a look.
Bitcoin price stabilizes at $64,000
Like CryptoPotato reported Yesterday, BTC fell to a low of $63,400, marking a 5-week low in a turbulent and declining cryptocurrency market.
It seems, however, that in the last 24 hours the bulls have managed to regroup and have arrested the decline so far. BTC is trading at around $64,000.
That said, the derivatives market has also cooled. The final day’s total settlements amounted to approximately $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 attempting to re-establish their positions.
Altcoins recover, ADA rises 4%
Altcoins are also plotting a recovery, with most of them trading in green today, albeit posting rather slight gains.
For example, XRP increased by only 0.6%, SHIB – 1.3%, SOL – 0.5%, ETH – 0.86% and so on.
There are some exceptions, of course. Cardano (ADA) has risen as much as 3.7% in the last 24 hours, making it one of the best performing stocks.
Toncoin (TON) exploded by 6% and is the leading large-cap altcoin. Other more notable gains from this list include AVAX, which is up 3%, PEPE – up 4.12% and MATIC – up 3%.
Among the top 100 cryptocurrencies by total market capitalization, the best performer is JASMY, up 11%. BRETT and Kaspa (KAS) follow, both up 7.7%.
At the opposite end of the spectrum is Fetch.AI (FET), which is down 4.4% and is the worst in the last 24 hours.
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Cryptocurrency charts from TradingView.