Bitcoin, Ethereum and other major cryptocurrencies have consolidated around key levels over the past 24 hours, and their performance around them is likely to determine the further direction.
$24,000. bitcoin flirting with
BTC price is the same as it was 24 hours ago, as the cryptocurrency remains flat at the $24K level, which is an important hurdle. If there is a break above this, it could clear the way for further gains.
Despite the relative calm, the market saw approximately $200 million worth of liquidated long and short positions, but the leader in this segment was ETH with $77 million, followed by BTC with $27 million.
The chart perfectly visualizes the range within which bitcoin has been trading over the past weeks and the significance of the $24K level.
Polkadot climbs 8%, altcoins largely flat
Most of the altcoins, like bitcoin, have been trading flat over the past 24 hours. Ethereum is at the same price as it was yesterday, and the same can be said for many large companies – as seen in the image below.
That said, Polkadot’s DOT is the most obvious outlier and exception to the above. According to CoinGecko, the cryptocurrency is up 8% in the past day and finds itself in the top 10 by total market capitalization.
The general market sentiment is also improving steadily. The Crypto Fear and Greed Index – the most commonly used metric to measure sentiment – currently sits at 42 points which is a sign of fear but not as bad as it was a few weeks ago when it saw around 10.
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