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Bitcoin, ETH start Monday on a bearish note, altcoins also bearish

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TL;DR Breakdown

  • Bitcoin has not broken $61,700 resistance level.
  • Shiba Inu price surged by 6.18% in the last 24 hours.

Last week, Bitcoin (BTC) ended the day on a bullish note as the prices rose by more than 6% by October 11. On the other hand, today’s king of cryptocurrencies has seen sluggish growth, unable to break the resistance at $61.7k. 

Overnight, the price of the BTC/USDT trading pair rose from a low of $58.9k to a high of $61.7k. 

Considering the prominent movements, Bitcoin broke above the $50k price level on October 15, starting at $57.3k and ending the day at $61.6k. 

Bitcoin sluggish today, ETH down by 2%, SHIB rising

Ethereum token (ETH) has been sluggish for the time being, down by 2%. The price action reached a higher of $3971, unable to enter the $4k price level. The trading volume of the cryptocurrency has surged by 15.10%, at 16.8 billion USD. 

On the other hand, the SHIB token, the people’s favorite meme token, is up by 6.18% in the last 24-hours, with a surge in trading volume by 142.02%, at 3.3 billion USD. The market capitalization of the currency rose by 5.15%. 

Comparing the price action of ETH to Ethereum killers, Cardano has been down by 1.68% in the last 24-hours. The trading volume of the token rose by 2.2%, at 2.2 billion. The surge in trading volume indicates that investors are interested in the ADA/USDT token today. 

Another ETH killer, Solana, has fallen by more than $7 in the last 24-hours while the trading volume is up by 2.07%, at 1.8 billion USD. Solana remains at #7, with market cap dropping 4.06% at 47.2 billion USD. 

Crypto market today

Today’s market is bearish as BTC cooled off after the 6% price surge last week, although the king of coins was already up by 38.76% in October. The BTC/USDT pair is just 6% down from its all-time high (ATH), and we can expect a new ATH in October, better termed as ‘Uptober.’

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