Can Altcoins Surge Alongside Bitcoin as It Reclaims the $87K Price Level Again?
- Bitcoin trades at $87,450 with a modest daily loss but a strong weekly performance.
- Analysts debate whether altcoins will follow Bitcoin’s lead or continue to lag.
- Fear and Greed Index rises from Extreme Fear at 27 to a Fear level of 34 this month.
Bitcoin has once again approached the $87,500 level with a solid daily gain of 3.3% at press time. As BTC nears its next resistance, market participants are increasingly asking whether altcoins will finally catch up after extended periods of underperformance.
While Bitcoin showed a modest recovery during this period, the performance of altcoins has been mixed. Ethereum has shown strength, gaining 3.4% over the past 24 hours. However, other top 10 cryptocurrencies have failed to show similar upward movements.
Analyst Highlights Key Technical Breakout
Technical analyst The Wolf Of All Streets has highlighted an important point for Bitcoin. He mentioned that it’s “breaking through descending resistance from the all-time high.” The analyst emphasized that Bitcoin needs to rise above $88,804 to break the series of lower highs and lower lows.
Related: Crypto Market Edges Higher as Bitcoin Crosses $87K; Cardano E…
The post Can Altcoins Surge Alongside Bitcoin as It Reclaims the $87K Price Level Again? appeared first on Coin Edition.
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Can Altcoins Surge Alongside Bitcoin as It Reclaims the $87K Price Level Again?
- Bitcoin trades at $87,450 with a modest daily loss but a strong weekly performance.
- Analysts debate whether altcoins will follow Bitcoin’s lead or continue to lag.
- Fear and Greed Index rises from Extreme Fear at 27 to a Fear level of 34 this month.
Bitcoin has once again approached the $87,500 level with a solid daily gain of 3.3% at press time. As BTC nears its next resistance, market participants are increasingly asking whether altcoins will finally catch up after extended periods of underperformance.
While Bitcoin showed a modest recovery during this period, the performance of altcoins has been mixed. Ethereum has shown strength, gaining 3.4% over the past 24 hours. However, other top 10 cryptocurrencies have failed to show similar upward movements.
Analyst Highlights Key Technical Breakout
Technical analyst The Wolf Of All Streets has highlighted an important point for Bitcoin. He mentioned that it’s “breaking through descending resistance from the all-time high.” The analyst emphasized that Bitcoin needs to rise above $88,804 to break the series of lower highs and lower lows.
Related: Crypto Market Edges Higher as Bitcoin Crosses $87K; Cardano E…
The post Can Altcoins Surge Alongside Bitcoin as It Reclaims the $87K Price Level Again? appeared first on Coin Edition.
Read More