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Bitcoin Maintains $30K as Altcoins Consolidate (Market Watch)



Bitcoin managed to defend the coveted $30K level successfully, while the majority of the altcoin market remained flat and consolidated over the past 24 hours.

Bitcoin bulls did their best to hold the important psychological level of $30K. This happens on the back of a broader consolidation across the entire market as most of the altcoins are trading flat over the past 24 hours.

Bitcoin’s Price Maintains $30K

Yesterday, Bitcoin’s price dipped below $30K for a brief period of time, but the bulls were very quick to defend the level and brought it back above it in a few hours, as seen on the chart below:

Source: Binance, powered by TradingView

At the time of this writing, the cryptocurrency is charting a daily increase of around $1.8%. The market seems to have calmed down a bit today, but the liquidations for the past 24 hours remain relatively high at above $200 million, according to data from Coinglass.

Leading the way is Bitcoin, with around $133 million worth of liquidated positions. The largest single liquidation order took place on Bybit – a BTC/USD order with a face value of $3 million.

Altcoins in Consolidation Mode

The altcoin market seems to be in consolidation mode, albeit painted almost entirely in green. Most of the large-cap cryptocurrencies remained flat for the past 24 hours, with a few slight exceptions.

As seen in the above heatmap, the altcoin market failed to produce any meaningful gains, but on the other hand – it stopped bleeding as well, which could be interpreted as a good sign.

Yet, the cryptocurrency fear and greed index once again dropped towards the 10 basis points indicating “extreme fear” after having bounced a bit over the last few days.

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