Weekend Crypto Calm: Market Consolidates at $2.19 Trillion
Over the last day, the crypto market has steadied. Its total market cap is approximately $2.19 trillion, essentially unchanged from the previous day. Both Bitcoin and most other large-cap cryptocurrencies had comparatively little volatility and are currently consolidating. Given that volumes are often lower on weekends, this price behavior is to be expected.
Bitcoin Struggles to Break $63K as 200-Day Moving Average Looms
Despite a prior decline below $59,000, the market saw a significant rebound, with the price of Bitcoin rising to over $62,000. The rally seems to have lost some of its momentum. The price is currently consolidating around the $62K mark after failing to rise further.
Technically speaking, the 200-day moving average is presently situated around or near $63.4K. This suggests that the present consolidation may be a prelude to a further upswing. However, the 100-day moving average, or $61,000, represents the first level of support for Bitcoin should the sellers come back in force.
Altcoin Market Stabilizes, Aptos (APT) Emerges as Top Gainer with 15% Spike
After slightly recovering from the declines of the previous week, the larger altcoin market is now consolidating. With a few notable exceptions, the majority of large-cap stocks are trading flat on the day. Aptos (APT), in particular, is showing incredible success. It is now the top performer among the top 100 cryptocurrencies by market capitalization, having increased by more than 15% in the last day.
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