Bitcoin Reclaims $18K, Ripple Tumbles 6% Following Spark Airdrop’s Snapshot

Following another dip to $17,600 bitcoin has bounced off and has reclaimed the $18K level. Most alternative coins have taken a breath of fresh air as well, and the market cap has gained about $20 billion since yesterday’s bottom.

Bitcoin Reclaims $18K

The primary cryptocurrency began gradually decreasing in value at the start of the week. After a few consecutive days of trading in the red, bitcoin dipped even further to $17,600.

Despite bouncing off initially, BTC failed to fully recover in the following days. This resulted in another drop, this time to about $17,500 (on Bistamp) – a new lower low.

The recovery was not late to come as the primary cryptocurrency refused to stay low and initiated a leg up shortly after. Firstly, BTC overcame $18,000 before spiking to its current price of about $18,350.

The technical indicators suggest that Bitcoin has to overcome the resistance lines at $18,500 and $18,800 to resume its late 2020 bull-run and challenge the coveted $19,000 level.

Alternatively, the support areas of $18,000, $17,260, and $17,000 could assist in case BTC heads south once again.

BTCUSD. Source: TradingView

Altcoins In Green: Despite Ripple

During the past week’s price drops, the alternative coins suffered even more than Bitcoin, and the total market capitalization lost $50 billion in less than seven days.

However, most of the altcoins have bounced off from yesterday’s bottoms. just as Bitcoin did. Ethereum has increased by 4% on a 24-hour scale and has neared $560.

Bitcoin Cash (4%) trades above $265, Binance Coin (4.3%), is close to $28, Chainlink (5%) has risen north of $12, and Polkadot (4%) is at $4.8. Cardano and Litecoin have gained the most from the top ten (7%) and sit at $0.146 and $75, respectively.

Ripple is the only top ten token in the red with a 6% decline, as another classic case of “sell the news” event following the Spark (FLR) airdrop snapshot, which took place hours ago on December 12, 00:00 UTC time.

Cryptocurrency Market Overview. Source: Coin360


NEM and Monero are the most significant gainers since yesterday with double-digit increases. As a result, XEM is close to $0.24, while XMR has neared $150.

Verge (9%), Decred (9%), Waves (8%), Dash (8%), and Aave (7%) follow. Ultimately, the total market cap has added $20 billion in a day and currently displays $541 billion.

SPECIAL OFFER (Sponsored) Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO35 code to get 35% free bonus on any deposit up to 1 BTC.

Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.

Source link

The post Bitcoin Reclaims $18K, Ripple Tumbles 6% Following Spark Airdrop’s Snapshot appeared first on Crypto new media.