Monday, December 4, 2023

Market Watch April 8: Ether outperforms Bitcoin in last 24-hours, price retest likely

In the last 24-hours, Bitcoin made slight gains but Ether outperformed the popular cryptocurrency. Ether has taken the lead, outpacing Bitcoin more significantly in terms of percentage. However, Bitcoin remains the market leader. BTC’s price is up by 0.56% and is trading at $43,604, while ETH has gained 2.18% and is changing hands at $3,259, as per data from CoinMarketCap. The top two cryptocurrencies broke out of consolidation patterns to move a bit higher. Ether might face resistance near the $3,300 level.

Analyses show that Bitcoin made breached the first technical level in early February 2022 of $45,905 and broke the bearish pattern in the final week of March. Rekt Captial says there is support at $43,100. The analyst predicts that Bitcoin will enjoy an upside from the high $40,000s to the low of $50,000s.

Meanwhile, the altcoins are lighted in green. NEAR Protocol’s native token NEAR is the biggest gainer, having gained 20.19% in the last 24-hours. Avalanche, Polkadot, Cardano, Solana, and Ripple’s XRP have seen gains between 2.50% – and 7%, respectively. Terra LUNA is the biggest loser. It is down by nearly 2% in the last 24-hours.

Overall, the crypto market lost a total of 7.5% in the week, albeit the majority of it came in the past two weeks. The past 24-hours recorded almost $100 million worth of liquidated Bitcoin positions – the majority are longs. This represents over 82% of the total liquidations. Bitcoin’s dominance rate stands at 41.2%.

Cryptured Team
Cryptured Team
The writers team at is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.

Most Popular