Bitcoin has taken a bearish stance as the push towards the highs of $43,000 was met with resistance. It sent the popular crypto plunging towards the $40,000 mark. However, the market expects Bitcoin to retrace again in the next 24-hours.
At the time of writing this article, Bitcoin was trading at $40,559. According to data from CoinMarketCap, BTC lost 2.80% of its value in the last 24-hours. There was substantial volatility when Bitcoin was trading in the range of $40,961 – $42,893. But trading volume has increased by 14%, totaling $29.8 billion. Analysts believe the popular crypto’s price is moving into retracement over the last hours. The market could see another local higher low set in the weekend.
The week saw a strong price rally. Bitcoin managed to break through the initial resistance at $40,600 on April 18 and moved higher. However, another higher low was set on April 21 at $41,000. The market saw bullish momentum set in overnight.
Ether is lost down by 3.20% and is changing hands at $2,997. Ethereum follows very closely on the heels of Bitcoin. It follows similar highs and lows. Over the past couple of hours, Ether was met with rejection for further upside. More downside is expected. But in the past week, the world’s second most popular crypto has made significant gains. ETH was at the low of $2,880 on April 19. It surged past the $3,080 resistance and tested further upside at $3,160.
As for the altcoins, NEAR Protocol is the biggest loser. It lost nearly 6% in the last 24-hours. Polkadot lost 5.37%, Solana 4%, Cardano 3.54%, Avalanche lost 3.67%, and Polygon is down by 2.35%. The altcoins are in the red.