Connect with us

Bitcoin

Market Watch: Bitcoin Struggles at $50K, Tezos Soars 30% Following Ubisoft News

Published

on

While bitcoin and most altcoins have remained relatively stagnant in a day, XTZ has gone on a tear with a 30% surge.

Bitcoin attempted another leg up in the past 24 hours but was stopped at $52,000 and retraced to just over $50,000. Most altcoins have also stalled since yesterday’s increases, with a few exceptions such as Tezos, which has surged by nearly 30% in a day.

Bitcoin Failed at $52K

CryptoPotato reported on Saturday the massive crash that drove bitcoin from $58,000 to a two-month low of $42,000, resulting in over $2.5 billion in liquidations from 400,000 over-leveraged traders.

Advertisement

The asset started to recover on Sunday but was stopped in its tracks at nearly $50,000. However, it managed to breach that level yesterday.

Moreover, BTC kept climbing in the following hours and even touched $52,000. This is where the bears stepped up once more and pushed it south again. As a result, bitcoin now stands at just over $50,000, and its market capitalization is down to $950 billion.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

Altcoins Stall: XTZ Explodes

Most alternative coins mimicked BTC’s performance lately, meaning that they dumped in value hard on Saturday and charted impressive gains yesterday.

News Source

Advertisement