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Cryptocurrency

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Bitcoin

Bitcoin’s price is recovering steadily from the drops experienced the other day, and the bulls are now targeting a critical resistance level.
That said, some of the altcoins are also going through a resurgence, with a few particular ones standing out.
Let’s dive in.
<h2 id="bitcoin-price-pushing-60k">Bitcoin Price Pushing $60K</h2>
As seen in the chart below, Bitcoin’s price has managed to almost complete a V-shaped recovery from the lows at around $56K from two days ago.
The bulls have managed to push the price toward $60K, getting as high as $59,820 on some exchanges. The price has since retraced a bit, and it traded at slightly above $59K on Saturday morning. This marks an increase of about 1.3% in the past 24 hours. BTC remains 2.6% down in the past week.
<figure id="attachment_354195" aria-describedby="caption-attachment-354195" style="width: 100%" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2024/08/BTCUSD_2024-08-17_11-42-42.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img class="size-full wp-image-354195" src="https://cryptopotato.com/wp-content/uploads/2024/08/BTCUSD_2024-08-17_11-42-42.png" alt="" width="2648" height="1594" srcset="https://cryptopotato.com/wp-content/uploads/2024/08/BTCUSD_2024-08-17_11-42-42.png 2648w, https://cryptopotato.com/wp-content/uploads/2024/08/BTCUSD_2024-08-17_11-42-42-300x181.png 300w, https://cryptopotato.com/wp-content/uploads/2024/08/BTCUSD_2024-08-17_11-42-42-1024x616.png 1024w, https://cryptopotato.com/wp-content/uploads/2024/08/BTCUSD_2024-08-17_11-42-42-768x462.png 768w, https://cryptopotato.com/wp-content/uploads/2024/08/BTCUSD_2024-08-17_11-42-42-1536x925.png 1536w, https://cryptopotato.com/wp-content/uploads/2024/08/BTCUSD_2024-08-17_11-42-42-2048x1233.png 2048w, https://cryptopotato.com/wp-content/uploads/2024/08/BTCUSD_2024-08-17_11-42-42-50x30.png 50w" sizes="(max-width: 2648px) 100vw, 2648px"></a>
 <figcaption id="caption-attachment-354195" class="wp-caption-text">
 Source: TradingView
 </figcaption>
</figure>
Interestingly, sentiment has declined over the same period. <a href="https://alternative.me/crypto/fear-and-greed-index/" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">According</a> to the popular Cryptocurrency Fear &amp; Greed Index, the market is currently in a state of “extreme fear.” The value of 25 is a decline compared to yesterday’s value of 27.
<h2 id="these-altcoins-outperform">These Altcoins Outperform</h2>
The performance of the broader cryptocurrency market is quite mixed, with many of the large-cap altcoins trading in the red.
Prime examples include SHIB, DOGE, ADA, SOL, XRP, LINK, BNB, ETH, and more.
<figure id="attachment_354196" aria-describedby="caption-attachment-354196" style="width: 100%" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2024/08/Screenshot-2024-08-17-at-11.46.43.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img class="size-full wp-image-354196" src="https://cryptopotato.com/wp-content/uploads/2024/08/Screenshot-2024-08-17-at-11.46.43.png" alt="" width="3340" height="1546" srcset="https://cryptopotato.com/wp-content/uploads/2024/08/Screenshot-2024-08-17-at-11.46.43.png 3340w, https://cryptopotato.com/wp-content/uploads/2024/08/Screenshot-2024-08-17-at-11.46.43-300x139.png 300w, https://cryptopotato.com/wp-content/uploads/2024/08/Screenshot-2024-08-17-at-11.46.43-1024x474.png 1024w, https://cryptopotato.com/wp-content/uploads/2024/08/Screenshot-2024-08-17-at-11.46.43-768x355.png 768w, https://cryptopotato.com/wp-content/uploads/2024/08/Screenshot-2024-08-17-at-11.46.43-1536x711.png 1536w, https://cryptopotato.com/wp-content/uploads/2024/08/Screenshot-2024-08-17-at-11.46.43-2048x948.png 2048w, https://cryptopotato.com/wp-content/uploads/2024/08/Screenshot-2024-08-17-at-11.46.43-50x23.png 50w" sizes="(max-width: 3340px) 100vw, 3340px"></a>
 <figcaption id="caption-attachment-354196" class="wp-caption-text">
 Source: Quantify Crypto
 </figcaption>
</figure>
There are those, however, who managed to chart more substantial gains during the last day. For example, Helium’s HNT is up 5%, while the token of the decentralized derivatives heavyweight dYdX (DYDX) is up 4%. AAVE is also charting 3.3% gains.
All in all, though, the market remains uncertain. The ongoing battle between bears and bulls has resulted in about $111 million worth of liquidated positions, $70M of which are long traders and the rest – short traders.
The post <a href="https://cryptopotato.com/bitcoin-eyes-60k-but-these-altcoins-outperform-weekend-watch/" rel="noopener noreferrer nofollow">Bitcoin Eyes $60K But These Altcoins Outperform (Weekend Watch)</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.

Bitcoin Eyes $60K But These Altcoins Outperform (Weekend Watch)

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