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Today’s edition of OKEx Insights’ Crypto Market Daily covers Bitcoin, Ethereum, altcoins and DeFi.
After breaking out of the symmetrical triangle on Thursday — which we previously noted may happen — the price of Bitcoin ( BTC) followed through on Saturday and reached nearly 11,500 USDT on OKEx. As of press time, the market-leading cryptocurrency has kept its gains and is consolidating horizontally while trading around $11,400.
The wider altcoin market, as is often the case, followed suit and moved up alongside BTC. Gains have been minimal over the past 24 hours, however.
The total cryptocurrency market capitalization is currently starting the week at $366,242,225,212, and BTC dominance is sitting at 57.5%, according to data sourced from CoinGecko.
In traditional markets, diminishing hopes for a new economic stimulus in the United States are coinciding with modest increases in Dow Jones futures, S&P 500 futures and Nasdaq futures. The rallying stock market has many traders feeling bullish and looking to front-run a continued rally — which could conceivably translate to a continued rally for the cryptocurrency market.
For a look at the market’s performance over the past week, readers can jump to OKEx Insights’ recently published Market Watch Weekly article.
Top altcoin gainers and losers
- DEP/USDT +30.50%
- FRONT/USDT +29.41%
- INX/USDT +29.14%
- RFUEL/USDT -10.28%
- ARDR/USDT -10.82%
- BOX/USDT -14.29%
Though the cryptocurrency market has generally been consolidating horizontally over the past 24 hours, some altcoins have seen significant gains. DEP, Frontier ( FRONT) and Insight Protocol ( INX) are today’s top gainers.
On the flip side, DeFiBox ( BOX), ARDR and RioFuel ( RFUEL) are the biggest losers — though their losses aren’t as extreme as the top performers’ gains.
Visit https://www.okex.com/ for the full report.
Disclaimer: This material should not be taken as the basis for making investment decisions, nor be construed as a recommendation to engage in investment transactions. Trading digital assets involve significant risk and can result in the loss of your invested capital. You should ensure that you fully understand the risk involved and take into consideration your level of experience, investment objectives and seek independent financial advice if necessary. OKEx Insights presents market analyses, in-depth features, original research & curated news from crypto professionals.
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BTC and ETH look to start week strong, alongside S&P 500 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.