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Weekend Watch: BTC Below $40K, ApeCoin Soars 14% Ahead of Otherside Sale

Summary:
Bitcoin failed again at overcoming ,000 and has returned to even below ,000. The majority of the altcoins are also in the red once more, but ApeCoin continues to defy the odds ahead of its highly-anticipated Otherside sale. Bitcoin Struggles Below K On April 25, bitcoin initiated an impressive leg up, adding nearly ,000 in hours. Consequently, the asset spiked to almost ,000 after its recent nosedives. However, this price increase was short-lived as the bears pushed the cryptocurrency south again. Moreover, this decline was even more violent, and BTC found itself trading below ,000 for the first time in over six weeks. Bitcoin reacted well at this point and bounced off towards ,000. It even briefly exceeded that level, but the overall bearish sentiment

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Bitcoin failed again at overcoming $40,000 and has returned to even below $39,000. The majority of the altcoins are also in the red once more, but ApeCoin continues to defy the odds ahead of its highly-anticipated Otherside sale.

Bitcoin Struggles Below $40K

On April 25, bitcoin initiated an impressive leg up, adding nearly $3,000 in hours. Consequently, the asset spiked to almost $41,000 after its recent nosedives.

However, this price increase was short-lived as the bears pushed the cryptocurrency south again. Moreover, this decline was even more violent, and BTC found itself trading below $38,000 for the first time in over six weeks.

Bitcoin reacted well at this point and bounced off towards $40,000. It even briefly exceeded that level, but the overall bearish sentiment in the crypto market drove it south once more. As of now, BTC trades below $39,000, and its market capitalization has declined well beneath $750 billion.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

ApeCoin Defies Market Sentiment

The altcoin space has also not enjoyed the past several days and the predominantly red landscape now only confirms this.

Ethereum touched $3,000 a few days ago but failed to remain there. It fell to $2,900 yesterday, and a 3% decline since then has driven the second-largest crypto to just over $2,800 as of now.

Binance Coin (-2%) is just under $400, while Solana has dumped well below $100 after another 3.5% daily decrease.

Ripple, Terra, Polkadot, Cardano, Dogecoin, and Shiba Inu are also in the red. Avalanche, MATIC, and NEAR Protocol have lost even more substantial chunks of value – up to 6%.

ApeCoin continues to outperform the rest of the market. As the anticipation for its upcoming Otherside sale keeps growing, APE has jumped by 13% and has neared its recent new all-time high at around $27.

But with the majority of alts being in the red, the crypto market cap is down by $50 billion and is well under $1.8 trillion.

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

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