The bitcoin (BTC) price is faltering! After yesterday’s bounce, the bulls failed to breach $ 57,500 and the price tumbled again. As of last night, BTC has been trading near $ 54,000, a major support zone. Whales, among others, are very active in this price region.
Bitcoin (BTC) whales are defending $ 54,000
The BTC rate has not yet recovered from the enormous blow last weekend. The $ 54,000 turned out to be a major price zone for the past few days. This is where bitcoin has held up until now, making this price region an important support to keep an eye on.
Whalemap data shows that the region between $ 56,274 to $ 55,172 is a price region where whales are very active. Whalemap analyzes so-called whale clusters. You often see that whales, investors who own huge amounts of crypto, buy bitcoin at the same price levels to defend their positions.
Whalemap’s chart shows that the low of this range can be at $ 51,172, the lowest whale cluster in this price region. In short, the fight between the bears and bulls is still in full swing with the price currently still in this above-mentioned region.
Top 10 colors red, except …
Dogecoin (DOGE)! The meme coin knows how to surprise again and can simply be found in the top 5 again. Where the rest of the cryptocurrencies in the top 10 are sinking relatively quickly, dogecoin rose by 12.7% in value over the past 24 hours. More about this increase on Crypto Insiders later.
Overall, the market is dangling around the $ 2 trillion total market cap. Cardano (ADA) is down 9%, ripple (XRP) is down 14.7% and ethereum (ETH) is down 5.5%. Bitcoin has regained some of its dominance and is gaining ground by just under 0.8%. Bitcoin’s value currently makes up 51.9% of the total.