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BTC Stopped Ahead of $89K, CRO Explodes by Double Digits (Market Watch)
The cryptocurrency market is witnessing a dramatic shift in the asset’s value. Bitcoin’s price movements to the upside were halted just before reaching the crucial $89,000 resistance level. Instead, it slipped below $87,000 and now sits roughly two thousand dollars lower.
In contrast, Cronos (CRO) has emerged as the top performer of the day, with a massive surge in value that defied all expectations. The cryptocurrency’s price skyrocketed by double digits, leaving investors stunned and eager to learn more about the catalysts behind this incredible growth.
Just last Tuesday, Bitcoin faced significant resistance while trying to maintain its position above $81,000 following a daily drop of $3,000. However, it successfully defended that level and surged past $87,000 after the second FOMC meeting and an announcement by Brad Garlinghouse regarding his company’s lawsuit with the SEC.
Unfortunately, the asset failed to sustain this upward momentum and spent several days trading around the $84,000 mark. The first signs of a recovery emerged on Sunday evening when Bitcoin started to regain its strength, culminating in a surge to just under $89,000 before stopping abruptly. It then slipped below $87,000 but has managed to recover above that line.
Bitcoin’s market capitalization rose to over $1.73 trillion, although its dominance over the altcoins has been significantly reduced and now stands at 58.3% on CoinGecko.
In stark contrast, Crypto.com’s CRO has made headlines by surging to incredible heights today. The partnership between Crypto.com and Trump’s media company – Trump Media and Technology Group (TMTG) – to launch various ETFs and ETPs led to a massive price increase of up to 40% at one point.
Dogecoin (DOGE), while not as spectacular, still managed to rise by nearly 6%, trading above $0.185. Other minor gains were seen in ADA, SOL, BNB, LINK, XLM, HBAR, and SHIB.
In stark contrast, Ethereum, Ripple, Tron, TON, and LEO have all posted insignificant losses.
Throughout the day, the overall crypto market capitalization has remained remarkably stable at $2.97 trillion on CoinGecko.
Source: https://cryptopotato.com/btc-stopped-ahead-of-89k-cro-explodes-by-double-digits-market-watch/
