Bitcoin is standing strong above the $6k level despite dropping from $6,900 today. Though the short-term price movement for bitcoin doesn’t seem to be positive, the altcoins have registered decent gains making a strong case for themselves while a few prominent ones are standing out from the rest.
Bitcoin standing strong despite dropping from $6,900
Today has been a good day for the Bitcoin and the overall crypto market. Talking about Bitcoin, if you take a look at the chart, it clearly shows what great spike the price registered at just about half an hour. Starting its journey from $6,480, the price took a hike to today’s highest point at $6,899. However, afterward it started making its downward slide, but at a much-controlled pace. At the time of writing, Bitcoin has been exchanging hands at $6,673.
The world’s number one cryptocurrency has been maintaining its stance above the crucial $6,000 level for past one week after dropping just below the $6k mark at $5,882. Before this, it has been at the end of June, that Bitcoin price took a dip below this level.
Though the price is maintaining its hold, the trading volume keeps on suffering as right now it is managing the daily trading volume of $4.1 billion. Meanwhile, the BTC dominance is also seeing action at 53% which is about 1.50% lower than this year’s highest a few days back.
However, experts are not bullish on bitcoin price for now. The current market scenario is expecting the bitcoin to plunge, especially tomorrow being the deadline of Proshare Short Bitcoin ETF.
Meanwhile, these altcoins lead the market
Given the fact that Bitcoin Dominance has taken a slight dip, altcoins are faring really well. If we have to point out the top gainers, as usually happens, coins pop out from the bottom of the list with substantial gains.
This time, it’s a mix, Cortex (CTXC) with 28%, Waltonchain (WTC) by 17%, and Aurora (AOA) by 13% are the top 3 gainers of today.
The top 10 cryptocurrencies are also in the green: Ethereum (ETH) is up by 2.52%, XRP by 3.15%, EOS with 5.15%, and Litecoin by 4.10% while Cardano (ADA) is up by 2.13%.
VeChain (VET) – Out of the prominent coins, a few coins are doing really well in terms of development and price movement. To start with, at 18th rank, VeChain (VET) is up by 8.71% at $0.015. This cryptocurrency has made a lot of development in terms of vaccine tracking systems in China and its founder Sunny Lu keeping the market hot with his mainnet and token swap explanation.
IOTA (MIOTA) – IOTA is one of the few cryptocurrencies working on real-world use cases and adoption. Currently, it is up by 5.65% at $0.541. This cryptocurrency holds a lot of potential as it works on its product.
Nano (NANO) – At $1.95., Nano has risen by 12.27%, seeing a good spike whenever bulls make an appearance in the market. The past week has been good for this cryptocurrency in terms of price.
Basic Attention Token (BAT) – With a $214 million market cap, BAT is rising by 7.04 percent at $0.214. Though the rise in price isn’t much, the cryptocurrency in itself has gained a lot of attention with its idea to incentivize the user to allow ads on its Brave browser.
So, overall, for now, the market is in green and on rising but only tomorrow will tell if the surge will continue or will get wiped out!