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

Summary:
Bitcoin’s fight to remain above ,000 didn’t go all that well yesterday, as the asset fell to a 9-day low of ,600 before bouncing off. The altcoins also went through similar price movements, but most are slightly in the green on a daily scale, including APE’s notable surge. Bitcoin’s New Local Low Ever since the end of the previous working week, bitcoin had calmed after the storm and stood at around ,000. It spent most of the weekend there, and Monday was no exception. Only as Tuesday was approaching the asset went on the offensive and spiked to ,600. It was stopped there at first, but it initiated another leg up a day later. However, to no avail again as the bears pushed it south. As such, BTC returned to a familiar ground of around ,000 and started fighting

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Bitcoin’s fight to remain above $19,000 didn’t go all that well yesterday, as the asset fell to a 9-day low of $18,600 before bouncing off.

The altcoins also went through similar price movements, but most are slightly in the green on a daily scale, including APE’s notable surge.

Bitcoin’s New Local Low

Ever since the end of the previous working week, bitcoin had calmed after the storm and stood at around $19,000. It spent most of the weekend there, and Monday was no exception.

Only as Tuesday was approaching the asset went on the offensive and spiked to $19,600. It was stopped there at first, but it initiated another leg up a day later. However, to no avail again as the bears pushed it south.

As such, BTC returned to a familiar ground of around $19,000 and started fighting for it. Yesterday, though, the cryptocurrency took a sharp dive below that level and dipped to $18,600, which became its lowest price tag since the massive volatility on October 13.

However, the asset reacted well to this drop, bounced off, and now stands inches above $19,000 once more. Its market cap is at $365 billion, while its dominance over the altcoins sits tight at 40%.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

ApeCoin Stands Out

Most altcoins experienced a similar ending to the working week but have reclaimed some ground as Saturday arrived.

Ethereum is close to $1,300 after a minor 24-hour price increase. Binance Coin, Cardano, Dogecoin, MATIC, Shiba Inu, and Uniswap have seen similar price pumps in a day.

Ripple and Avalanche have added slightly more value – up to 4% daily. As a result, XRP trades at $0.46, while AVAX sits above $15.

ApeCoin stands out as the most impressive gainer from the mid-cap alts. APE is up by 6.5% daily, which has pushed it to almost $4.5.

The overall crypto market cap has recovered a few billion in a day and sits at $920 billion, according to data from CoinMarketCap.

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

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