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Bitcoin Dipped to 9-Day Low, ApeCoin Soars 7% (Weekend Watch)

Bitcoin’s combat to stay above $19,000 didn’t go all that nicely yesterday, because the asset fell to a 9-day low of $18,600 earlier than bouncing off.

The altcoins additionally went by way of comparable value actions, however most are barely within the inexperienced on a day by day scale, together with APE’s notable surge.

Bitcoin’s New Native Low

Ever because the finish of the earlier working week, bitcoin had calmed after the storm and stood at round $19,000. It spent many of the weekend there, and Monday was no exception.

Solely as Tuesday was approaching the asset went on the offensive and spiked to $19,600. It was stopped there at first, but it surely initiated one other leg up a day later. Nevertheless, to no avail once more because the bears pushed it south.

As such, BTC returned to a well-recognized floor of round $19,000 and began fighting for it. Yesterday, although, the cryptocurrency took a pointy dive under that degree and dipped to $18,600, which grew to become its lowest price ticket because the huge volatility on October 13.

Nevertheless, the asset reacted nicely to this drop, bounced off, and now stands inches above $19,000 as soon as extra. Its market cap is at $365 billion, whereas its dominance over the altcoins sits tight at 40%.

BTCUSD. Source: TradingView
BTCUSD. Supply: TradingView

ApeCoin Stands Out

Most altcoins skilled an analogous ending to the working week however have reclaimed some floor as Saturday arrived.

Ethereum is near $1,300 after a minor 24-hour value improve. Binance Coin, Cardano, Dogecoin, MATIC, Shiba Inu, and Uniswap have seen comparable value pumps in a day.

Ripple and Avalanche have added barely extra worth – as much as 4% day by day. Because of this, XRP trades at $0.46, whereas AVAX sits above $15.

ApeCoin stands out as essentially the most spectacular gainer from the mid-cap alts. APE is up by 6.5% day by day, which has pushed it to virtually $4.5.

The general crypto market cap has recovered a couple of billion in a day and sits at $920 billion, in line with knowledge from CoinMarketCap.

Cryptocurrency Market Overview. Source: Quantify Crypto
Cryptocurrency Market Overview. Supply: Quantify Crypto

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Cryptocurrency charts by TradingView.

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