Ethereum, Major Altcoins Drop Against Bitcoin
Bitcoin price failed to clear the USD 50,000 resistance zone and corrected gains. BTC traded below the USD 49,000 support level. It is currently (04:26 UTC) showing bearish signs near USD 48,500 and is down over 2% in a day.
However, BTC is outperforming most major altcoins today as they’re down 3%-10%. Except for XRP that is unchanged in a day and is consolidating gains after a strong move above USD 0.90. ETH declined 5% and traded below the USD 4,200 level. ADA is sliding towards the USD 1.30 level.
Total market capitalization
After a close below USD 50,000, bitcoin price struggled to start a fresh increase. BTC even declined below USD 49,000, but the bulls protected USD 47,000. It is now trading near USD 48,500 and is facing resistance near
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