Many cryptocurrency prices fell slightly again last night, but then recovered during the night. In general, we don’t see any major changes in the market this morning, volatility is easing slightly and most prices are slightly green. The market cap of all crypto rose from $1.67 trillion to $1.74 trillion last night, before falling back to $1.71 trillion this morning.
Bitcoin (BTC) remains stuck in the same range for the time being where it has been for a while. However, this range is becoming smaller and the price fluctuations less severe. That could mean bitcoin is gearing up for a big move this week.
Shortly after midnight, bitcoin briefly fell back to $35,300 and then surged overnight to peak around $36,900. At the time of writing, bitcoin is falling back to $36,000 and it is possible that bitcoin will initially hang here in the coming days.
In a breakout upwards, some key resistance zones are around USD 37,500, USD 38,000 and of course USD 40,000. Should support fail around $35,000, bitcoin could drop back to $33,000 and possibly even $30,000.
Ethereum (ETH) fell back to USD 2,650 shortly after midnight, but rose more than 5.5% overnight to peak just above USD 2,800. Since then, the ether price has also fallen slightly, but a lot less hard than bitcoin. At the time of writing, ether is making a bounce at $2,750 and the price is starting to rise slightly again.
Further notable risers out of the top 100 today are Algorand (ALGO), Fantom (FTM) and again Polygon (MATIC) which are all up more than 6%. In fact, Nexo (NEXO) and Solana (SOL) are up about 10% in the past 24 hours.
Tezos and Red Bull Racing
The biggest climber in the past 24 hours is Tezos (XTZ) and that may have to do with Formula 1. Although the race didn’t end so well for Dutchman Max Verstappen, his teammate Sergio Perez took the victory, putting Red Bull Racing at the front of the constructors’ championship.
Recently, Tezos has been big on the Red Bull Racing car and the TZX price rose by 9% to $3.94 after the F1 race. The XTZ price is up 12% today, but still 50% below its all-time high (ATH) from a month ago.