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Bitcoin Challenges $12K As Binance Coin (BNB) Skyrockets 9% (Market Watch)

Bitcoin took yet another swing at $12,000 but to no avail so far, while Ethereum continues climbing to $440.

Macrodata reaffirms the ongoing bull trend as almost all top 100 digital assets have been in the green in the past three months.

Bitcoin Not Yet Conquering $12k

About three days ago, the primary cryptocurrency was in a bit of a jam as it dipped to $11,100. It began losing its dominance over the market, but the bulls have since regained possession and drove Bitcoin upwards.

Their attempt seemed solid, and BTC quickly came knocking at $12,000’s door. During this month-long bull run, which started from $9,000 in mid-July, the asset had seen three failed attempts to overcome that particular psychological level.

On some previous occasions, Bitcoin managed to climb above ($12,100 – the 2020 high) shortly before getting rejected. This time, however, the price increase stopped just beneath the $12,000 mark and has retraced to about $11,900 as of writing these lines.

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BTCUSD 5m. Source: TradingView

In case Bitcoin finally conquers the $12,000 resistance, it would have to battle $12,100 and $12,400 to move upwards. Contrary, if the price tumbles, the asset might find support at $11,400, $11,100, and $11,000.

Fluctuating Altcoins

During the past 24 hours, the alts have separated into two equally represented camps in green and red.

The retracing ones from the top 20 include Tezos (-3.5%), Monero (-1.5%), Cosmos (-2.2%), Cardano (-2.3%), and Chainlink (-4.5%). After several consecutive days of painting new all-time highs, LINK drops down a notch to $16.

From the lower-cap alts, more substantial loses are evident for Swipe (-17%), Aragon (-16%), Balancer (-14%), Algorand (-11%), Ampleforth (-11%), and Ocean Protocol (-10%).

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Cryptocurrency Market Overview. Source: coin360.com

On the other hand, Ethereum continues heading to a 2-year high of more than $440 after another 3.5% increase.

Litecoin gains about 1% of value, while Binance Coin (BNB) and EOS are the most impressive gainers from the top 20. BNB jumps by 9% to nearly $24, while EOS is 6.5% up to $3.4.

The most impressive gainers from the past 24 hours are Synthetix Network (29%), Quant (21%), Loorping (18%), Status (17%), 0x (15%), THORChain (12%), Ren (12%), DigiByte (11%), and Aave (10.5%).

Looking in a broader chart, data from Santiment indicates that 90% of all top 100 cryptocurrencies are in the green in the past three days. The percentage increases to 95% when examining the performances in the past month, and it goes to 97% in the past three months.

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Cryptocurrencies In Profit. Source: Santiment


https://cryptopotato.com/bitcoin-challenges-12k-as-binance-coin-bnb-skyrockets-9-market-watch/

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cryptohero8
I am a believer of the HODL philosophy because we are still in the nascent stage of blockchain technology. Although we are in a bear market now, my outlook on the adoption and growth of blockchain solutions remains unchanged. Blockchain transactions has been growing exponentially and demand for cryptocurrency like Bitcoin [BTC], Ethereum [ETH], Ripple [XRP], Litecoin [LTC] and other Altcoins will only continue to grow exponentially in the next five to ten years.

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