Bitcoin has bounced after losing as much as 7% over Monday and Tuesday. This relief bounce has also released the altcoins from their chains, and right now the crypto market is looking a whole lot rosier. But will it last?
$BTC bounce causes sharp altcoin reaction
Bitcoin is currently up on the day so far, and having started its bounce on Tuesday, it is continuing this upside move on Wednesday. Altcoins are certainly benefiting from this move, and some of the top alts are already outperforming $BTC to the upside.
Total market cap of altcoins at support
Source: Trading View
The Total3 chart is the combined market cap of all the altcoins, excepting $BTC and $ETH. It is showing that despite dipping under the strong support at $463 billion, the price is now resting back on top. This support looks to be very important for altcoins, although the support at $400 billion would be the critical safety net.
Kaspa (KAS) breaks out
Source: Trading View
That said, altcoins are moving into a bit of a
We współpracy z: https://cryptodaily.co.uk/2024/01/altcoins-react-quickly-to-bitcoin-bounce
