SOL, OKB surge as Bitcoin ETF excitement cools wider crypto market
Altcoin market bleeds as skepticism pervades BTC rally
The price of ETH is leading other altcoins down against the cryptocurrency market leader.
The cryptocurrency market is faltering today — particularly, the altcoin market. Despite the price of BTC remaining relatively flat over the past 24 hours, most major non-stablecoin altcoins are down by more than 5%.
The only major altcoin seeing major gains across global cryptocurrency exchanges is WAVES, which is up 14.4%. BCHA, meanwhile, is up by nearly 9%.
Bolstering market sentiment somewhat is the news that the United Kingdom's former Chancellor of the Exchequer, Lord Philip Hammond, has cautioned against the nation's combative stance toward digital assets. He told The Block:
"The U.K. is stuck talking about it, while others are doing it. This is a huge risk to the future success of the nation’s financial services sector. As Britain grapples with the question of how to maintain its position as a global financial services position, post-Brexit, we must seize the opportunity that the digital revolution presents."
Top altcoin gainers and losers: WAVES leads majors
- ALV/USDT +76.49%
- CVT/USDT +24.97%
- ETM/USDT +23.62%
- LMCH/USDT -13.65%
- CHAT/USDT -13.82%
- FAIR/USDT -16.79%
The top-performing altcoin on OKEx is, as mentioned earlier, WAVES. The coin is up 11.18%, per the exchange's default time settings. On the other side of the spectrum, FTM is the worst-performing major altcoin.
BTC technical analysis: Refusing to pull back
The price of BTC is still trying to grind higher, with the four-hour ribbon of exponential moving averages driving up from underneath. Still, a lot of indecision exists among traders as retail sentiment moves into extremely greedy territory.
ETH technical analysis: Belly flopping against BTC
The price of ETH continues to struggle against BTC and continues to push lower. The four-hour EMA ribbon is diving from above and may continue to act as resistance in the immediate term.
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