Weekend Watch: Bitcoin Loses $20K, Cardano Up 6%

It appears that the bears are slowly dominating the market in the near term as the major cryptocurrencies are trading at less than $20,000, and the majority of the other coins are looking inconclusive at best. Of course, there are some exceptions.

Bitcoin loses $20,000

The $20,000 level is very important. Besides being a psychological sign, it also has technical and fundamental support, which is the height of the 2017-2018 bull market.

However, BTC has been flirting with $20,000 for a few days now, and the bulls seem to have finally given up. At the time of writing, the cryptocurrency was trading at around $19,800, having recovered from daily lows around $19,600.

Source: Binance via TradingView

Volatility has also disappeared from the market in recent days, resulting in significantly less liquidity and overall trading volume. In the last 24 hours, there were only about $6 million in BTC filtered deals.

Cardano is up 6% because altcoins are indecisive

Although most markets today are painted green, the increases aren’t actually that significant, as evidenced by the heat map below.

Source: Quantify Crypto

Cardano is arguably the best performer among the top altcoins, while cryptocurrencies like ETH, DOT, BNB, and XRP are all up less than 1%.

DeFiChain (DFI) appears to be the coin with the most profit over the past 24 hours – with a whopping 11.5% increase, followed by GMX and ADA. At the other end of the spectrum, we have HNT helium, which is down 8.3%, followed by LEO – down 4.5%.

After watching the weekend: Bitcoin lost $20K, Cardano Soars 6% debuted on CryptoPotato.

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