Bitcoin futures reflect optimism as market awaits $13K breach
BTC and ETH regroup before potentially pushing higher
Today's edition of OKEx Insights' Crypto Market Daily covers Bitcoin, Ethereum, altcoins and DeFi.
The price of Bitcoin (BTC) is down 0.3% over the past 24 hours and is trading around 11,420 USDT on OKEx — approximately where it was changing hands at this time yesterday. Equally uneventful are major altcoins, with the price of Ether (ETH) down only 0.2%. Bitcoin Cash (BCH) is the only outlier after pushing up 5.2% over the same time period.
The total cryptocurrency market capitalization shaved off 0.1% and now sits at $368,877,755,101, according to data sourced from CoinGecko. The dominance of BTC, meanwhile, is currently 57.3%.
European stocks have been mixed this morning while investors in the traditional markets are preparing for earnings reports from major banks, which has driven up United States futures. Asian stocks pulled back, however, as did the British pound.
Top altcoin gainers and losers
- GHST/USDT +24.90%
- UBTC/USDT +21.75%
- APM/USDT +19.99%
- RFUEL/USDT -11.65%
- MXT/USDT -13.16%
- TRADE/USDT -30.23%
UniTrade (TRADE) once again finds itself back on the list of worst performers — alongside MixTrust (MXT), which was on the list yesterday, as well. The recently listed RioFuel (RFUEL) has also returned to the losers' list.
BTC technical analysis
There have not been many significant developments when it comes to BTC price action. The market-leading cryptocurrency is currently using the ribbon of exponential moving averages as support on the four-hour timeframe.
Resistance remains at $11,800 while an ascending trend line remains intact underneath.
ETH technical analysis
On the same four-hour timeframe, the price of Ether (ETH) is also using the ribbon of exponential moving averages as support on its quest to break above $395 and establish a new, and wider, trading range.
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