Bitcoin Sharply Rejected at $20K Following Friday’s Wall Street Collapse (Weekend Watch)

Bitcoin attempted to take down $20,000, but it was stopped by the authorities once again.

After yesterday’s huge gains, altcoins are now back in red. All this happened after the bloody Friday at Wall Street.

Bitcoin Stops at $20K

The main cryptocurrency was relatively calm recently, but this all changed when the US released the latest CPI numbers. BTC was at $19,000 when it crashed to $18,200 after a week. But that was only the beginning of the rollercoaster. The asset skyrocketed to almost $2,000 before reaching $20,000 just hours later.

It reached its highest price in just one week, but it didn’t last long. The bears came out and drove BTC down hard instead of recovering that price. The cryptocurrency fell back to $19,000 as a result.

Although its market capitalization is now below $370 billion, it still holds a strong position over altcoins.

BTCUSD. Source: TradingView

These negative price developments mirror Wall Street’s events. The most important US stock indexes, such as the S&P 500 and Nasdaq, closed Friday with a positive week. They saw a 3% decline in daily trading.

lts back in red

Yesterday’s bullish landscape for alternative coins was very evident, with many impressive gainers from Ripple MATIC, Avalanche and other coin holders.

But, many have now followed BTC down. Ethereum surged to $1,350 24hrs ago. However, a minor retracement has brought it down to $1,300.

Cardano and Polkadot, Dogecoins, Shiba Inus, MATIC and Uniswap all saw their prices drop by as much as 5% per day. Solana fell below $30 following a similar daily decline.

Tron’s native cryptocurrency is, surprisingly, the only exception to the larger-cap alts. TRX has increased by more than 5% and trades at $0.065.

However, the total market cap for all crypto assets is still at $30 billion per day and is now below $920 billion.

Cryptocurrency Market Overview. Source: Quantify Crypto

The post Bitcoin Sharply Rejected at 20K Following Friday’s Wall Street Collapse appeared first on CryptoPotato.

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Marla Brooks

Marla Brooks – Financial Analysis My name is Marla Brooks, and I am the mainstream behind the”observednews.com”  for the powerful and most delicate insights into the latest activities in the financial analysis category. I started my journey as an independent financial consultant. I had approximately nine years of experience in this field. I am free soul so; my passion for exploring the world has taken me to the nations across the globe and given me the chance to report for a portion of the best news associations. Currently, I am a full-time editor as experienced in finance and started to use my abilities.

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