From CryptoPotato · By Jordan Lyanchev
Bitcoin’s weekend sluggishness continues as the asset has barely moved from $83,000 over the past 36 hours, but more volatility is likely to hit later today or tomorrow morning.
The larger-cap alts have also failed to produce any significant moves in either direction in the past day, but there’s a new rockstar among the mid caps.
BTC Calms at $83K
The primary cryptocurrency started October with a bang, surging to over $87,000 on the second day of the month. However, the bears quickly interfered and pushed it south to under $84,000 on the same day. It rebounded last weekend toward $85,000 before it tried to break out again on Monday morning, only to be stopped at $86,600 this time.
The following legs down were a lot more painful. At first, bitcoin crashed to $83,600. It bounced to $84,400 before the bears took complete control of the market and drove it south to $82,400 on Wednesday and to a multi-week low of $80,400 on Thursday. After losing nearly $7,000 in just a few days, the cryptocurrency was due for a rebound, which took place on Friday.
However, the bulls’ attempt was stopped at $83,500. Since then, the asset has been trading sideways at around $83,000 without any major moves. More volatility is likely to ensue later tonight or tomorrow morning after the new attacks against Saudi Arabia and President Trump’s hint that the US could join the fight.
Bitcoin’s market cap remains at $1.660 trillion, while its dominance over the alts is at 59.5% on CMC.
BTCUSD October 11. Source: TradingView
3 Double-Digit Gainers
As mentioned above, there’s little to no movement among the larger-cap alts. ETH is close to $2,500, XRP has dipped below $1.40, while ZEC and HYPE are up by around 1%. BNB, SOL, TRX, DOGE, XMR, LINK, and ADA are slightly in the red.
At the same time, STRK has stolen the show today, skyrocketing by over 53% to almost $0.11. The asset is up by over 105% in the past week. The other double-digit gainers are TIA (21%) and AERO (15%). The former trades at close to $0.60, while the latter is up to $1.
The cumulative market cap of all crypto assets stands still at $2.8 trillion on CMC.
Cryptocurrency Market Overview October 11. Source: QuantifyCrypto
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