Although Bitcoin is struggling to recover from its recent crash, Ethereum is pushing toward a new high and prompting several altcoins to rally.
Bitcoin’s sharp correction to $50,000 brought Binance Coin, FTX Token, OKex and Huobi Token to their lower support levels but data shows there is still a bullish case for exchange tokens.
After the initial oversold bounce, traders are struggling to sustain the momentum of the relief rally in Bitcoin and most altcoins, a signal that selling could intensify at higher levels.
BNB price rallied by more than 20% in the last 24 hours due to several key reasons.
Bitcoin’s weakness and Dogecoin’s epic pump are signals that the market could be overheating and in need of a short-term correction.
Today’s Coinbase (COIN) listing is likely to remain a focal point that will dictate the short-term price action in Bitcoin and altcoins.
Altcoins continue to press higher while Bitcoin bulls work on holding the $60,000 level as support.
It’s a sea of green across cryptocurrency on Monday as all-time highs come back within reach for Bitcoin.
With Binance Chain’s 11 validators hand-selecting Binance Smart Chain’s validators daily, analysts are warning of the protocol’s centralization.
The rally in Bitcoin and select altcoins seems to have hit a wall as bears continue to aggressively push back at key overhead resistance levels.