From CryptoPotato · By Jordan Lyanchev
Bitcoin’s price struggles around the key $80,000 area continue, as the asset dipped below that line on a couple of occasions during the weekend and barely stands above it now.
Most larger-cap alts are atypically sluggish for a Monday morning, with ETH and XRP posting minor losses, while ZEC and HYPE are up by 1%-3%. QNT, though, has skyrocketed by double digits, followed by ENA.
BTC Struggles at $80K
Things can easily change in the crypto market sometimes in the matter of just days. Recall that the largest digital asset began to climb last Tuesday and peaked on Wednesday at almost $85,000, which became its highest price tag in two weeks. The sentiment was quickly turning, and there were even calls for $90,000.
Instead, reality brought the bulls to their knees. BTC was instantly rejected at the $85,000 resistance and tanked to $83,000 within hours and to under $81,000 a day later. It found some support and remained there until Friday before the bears took it a step further on Saturday.
Although most weekends are typically quite sluggish, this one wasn’t. BTC tanked below $80,000 on Saturday and dipped to a 5-week low of $79,100. It rebounded immediately above $80,000, but slipped below that level a few more times on Sunday.
As of press time, it remains inches above $80,000, but more volatility and uncertainty are expected later this week due to several critical events. Its market cap is down to $1.610 trillion on CMC, while its dominance over the alts stands at 60%.
BTCUSD October 26. Source: TradingView
QNT Pumps Again
Ethereum, Binance Coin, and Ripple’s XRP are slightly in the red once again, posting losses of less than 1%. In contrast, SOL, TRX, DOGE, and LINK are up by similarly insignificant percentages. ZEC has gained 2%, while its privacy coin rival XMR is down by 2.5%. HYPE, NEAR, BCH, and UNI have posted slightly more impressive gains.
QNT has rocketed the most from this cohort of assets, jumping by nearly 18% to $221. ENA follows suit with a 6.6% surge to over $0.20.
The total crypto market cap has remained at essentially the same level as yesterday on CMC at $2.680 trillion.
Cryptocurrency Market Overview October 26. Source: QuantifyCrypto
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