outperformed most crypto majors with its 5% daily gain, and recently was the only cryptocurrency – apart from BTC – in the broad-market crypto benchmarkwith a positive daily performance. Several smaller, publicly-listed bitcoin miners enjoyed double-digit gains. Hive Digital Technologies , TeraWulf , Canaan rallied 10%-20% during the day, while large-cap miners Marathon Digital and Riot Platforms were up 4%.
Zooming out to traditional markets, the broad-market S&P 500 and the tech-heavy Nasdaq 100 continued their climb to new all-time highs and were up 0.9% and 1.2%, respectively.Bitcoin has been chopping sideways in a tight range below its all-time record prices since March, flushing out excess leverage in liquidation cascades, and surely causing some impatience from market participants, particularly the"number go up" crowd.
Derivatives trading network Paradigm said that the crypto market is"losing momentum" in lack of catalysts to bring traders to action."Despite positive predictions flying around, a new market needs real news to move forward and keep traction," it said in a Telegram update earlier today.that BTC is"clearly" in its declining phase of its daily cycle and could revisit the lower $60,000 area before a more sustainable uptrend.
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Source: FXStreetNews - 🏆 14. / 72 Read more »