The new crypto market wrap on our altcoin news site shows that the altcoins are now struggling and are apparently getting eaten while Bitcoin is making new leaps forward to the $9,300 level, with 151% in yearly gains up to date. As altcoins suffer, Bitcoin breaks out again with one hour spikes, with the previous one sending it to an intraday high of $9,350.
The backup which started the day made the crypto markets vulnerable. As BTC hovers around its highest price for over a year, there is a huge wall of resistance just above this level, so further consolidation is definitely likely for the coming days.
The fact that altcoins suffer now is best illustrated by a number of them featured in our latest cryptocurrency news. Ethereum (ETH), for example, has not even gained off Bitcoin’s 2% pump. The cryptocurrency still remains stagnant below $270 and there are further losses to its price. Despite the support at $260 which is holding, there is very little momentum for the biggest altcoin this week.
Right now, the outlook of the crypto market shows that the top ten has done very little over the past 24 hours with most of the coins moving less than 1% in either direction. The biggest movement, as many best cryptocurrency news sites noted, was the one from Stellar which dropped another 2% and is still weak. While altcoins suffer, BNB is also down by a similar amount of 2%.
During the Asian trading today, little is going on. Monero is the only altcoin which is gaining as it makes a 3% surge to the top $100. The losing 3% are Cosmos and NEO, while Tezos is dropping out of the top twenty and is dumping another 4% on the day.
The only altcoin which is gaining while altcoins suffer is MaidSafeCoin. With a 13% surge, the relatively new and popular altcoin is gaining due to the anti Facebook rhetoric.
6/ Remember Cambridge Analytica! You can’t trust #Facebook with your data, why trust them with your money…
— Autonomi (@WithAutonomi) June 19, 2019
As the coming altcoin news show, Egretia is the second best altcoin on the day, grabbing 8% while Insight Chain dropped 12%. Ardor is also falling hard with a 7% loss on the day.
The total crypto market capitalization has increased by $2 billion or so today, which is pretty much all Bitcoin as the dominant cryptocurrency drives the markets to $288 billion. Its dominance right now is over 57% while altcoins suffer and remain asleep.
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