Bitcoin Floats Above $80K On Bullish Structure, Altcoins Remain Range-Bound

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Bitcoin has moved above $80,000 and has held steady at this level, which could provide a foundation for another rally, even if a minor one. Importantly, there was no new bearish macro or regulatory shock, and this finally allowed the market to drift higher on existing bullish structure. The bull is not guaranteed, as the crypto market in general remains sensitive to geopolitical pulls and pushes.

Bitcoin holds above $80,000

At the time of writing on Tuesday morning (8:20 UTC), Bitcoin is the best performer in the top 10 category, though it saw a relatively small increase of 1.5% over the past day. Nonetheless, that percentage led it over the $80,000 level, which BTC finally managed to hold. It’s now trading at $81,029.

Whether it’ll stay above $81,000 is questionable, but holding the $80,000 zone allows it to establish a firmer basis for another leg up.

As seen above, following a brief dip to $78,358, the price surged to $80,300, which further led to a more gradual rise to the intraday high of $81,135.

The previous drop toward the $75,000 acted as a buy-the-dip zone. It triggered a rebound back toward $80,000 as traders defended key support levels.

Altcoins move in a tight range

The global cryptocurrency market cap has gone up by 1.2% since this time on Monday, currently standing at $2.76 trillion.

The top 10 coins have seen a somewhat mixed picture, with four going up and four moving down over the past 24 hours. But the changes aren’t that notable in either direction. Bitcoin is certainly the top gainer, as discussed above, but the rest of the green coins are up by less than 1% each.

Ethereum is the second-best performer, having increased by 0.7%, trading at the price of $2,382 at the time of writing. It has consistently been performing well, remaining relatively stable through this consolidation period, not seeing major swings in either direction.

The highest losses in the top 10 category were Figure Heloc (FIGR_HELOC) and Dogecoin (DOGE), having decreased by 0.8% and 0.5% to $1.03 and $0.1117, respectively.

Meanwhile, about 40 of the top 100 coins by market cap are in the red today, meaning that the majority have appreciated over the past 24 hours. Two coins here posted significant increases, therefore standing as the day’s winners. Toncoin (TON) jumped nearly 30% in a day to the price of $1.79. At the same time, MemeCore (M) appreciated by 19%, currently changing hands at $3.49.

What’s more, the drops aren’t significantly high. While Siren (SIREN) fell 10.5% to $0.7597, most of the others have noted falls of less than 2% per coin.  

Overall, even if the rises were small, they led to the world’s two biggest coins revisiting some notable levels. The external catalysts are strong, however, so investors are keeping a close watch.