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Today’s edition of OKEx Insights’ Crypto Market Daily covers Bitcoin, Ethereum, altcoins and DeFi.
In yesterday’s Crypto Market Daily, we noted that the price of Bitcoin (BTC) outperformed stocks and gold in this week’s global sell-off — and there are signs that BTC still has better momentum. Overnight, the market-leading cryptocurrency was the fastest riser among all asset classes.
In the United States, stocks closed slightly higher on Thursday — with the S&P 500 Index up 9.67 points, or 0.30%. Gold futures also recorded their first gain in four trading days on Thursday.
On the other hand, BTC has surged 5% in the past 24 hours, breaking through two intraday resistance levels at $10,400 and $10,550. The most well-known cryptocurrency has managed to hold $10,600. Bullish engulfing candles were formed on the daily chart with amplified trading volume.
The total cryptocurrency market capitalization spiked 4.4% to above $340 billion, as per data from CoinGecko. Meanwhile, BTC dominance remains at 57.7%.
The OKEx native exchange token, OKB, seems to be acting as a safe-haven these days — being able to move up when the market is down but stalling when the market is up.
Chainlink ( LINK) has rebounded significantly after a series of declines and is up 19.96% overnight. Ether ( ETH) and TRON ( TRX) also saw big wins. They are up 5.61% and 4.95%, respectively. This also caused a bunch of DeFi tokens to recover more than 10% from the previous days’ sell-offs.
Top altcoin gainers and losers
- APM/USDT +73.29%
- JFI/USDT +34.10%
- YFV/USDT +26.97%
- CNTM/USDT -2.01%
- HDAO/USDT -2.13%
- CVT/USDT -3.31%
Jackpool.finance ( JFI) and YFValue ( YFV), which were on the top losers list yesterday, rebounded quickly overnight, claiming the second and third places on the list of top gainers. They are up 34.10% and 26.97%, respectively.
Today’s winner is apM Coin ( APM), which skyrocketed by 73.29%.
There are very few tokens falling today, and the declines are quite limited.
Visit https://www.okex.com/ for the full report.
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BTC Breakout Brings Bullish Momentum, Lifting Entire Crypto Market was originally published in OKEx Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.