The broader market and Bitcoin started the day with bearish sentiments. BTC’s move to overcome the $32,500 levels is crucial for the support of other digital coins.
On Thursday, BTC-USD declined by 2.84%. That way, the leading asset reversed Wednesday’s 0.29% gains, ending the day around $31,890.0.
Bullish sentiments had BTC rising to $33,200.0 in the early intraday before reversing.
The asset dropped to $31,150.0 in the afternoon after failing to defeat its first massive resistance level.
BTC declined through the first vital support at $31,898.
After conquering the sub-$31K support zones, the best cryptocurrency recovered some of its losses, ending the day hovering at the $31,890 levels. The first massive resistance at $31,898 overpowered BTC’s uptrends.
The coin maintained its short-term bullish attitude regardless of the latest drops to $31K levels. BTC needs to undergo an extended decline through $27,237, 62% Fib, to confirm short-term bearishness.
Top cryptocurrencies saw a mixed session on Thursday.
BNB surged 2.1%, bucking its day’s trend.
However, the rest top asset had bearish attitudes.
Crypto.com Coin lost 6.35%, and Chainlink declined by .03% to lead the downtrends.
Other virtual coins that had heavy losses are Cardano (-3.03%), Ripple (-3.72%), Litecoin (-3.99%), and Ethereum (-3.81%). Also, Polkadot has modest losses, plunging by 2.38%.
Over the week, the overall crypto market value increased to $1.419 billion on Monday before declining to $1.257 billion on Thursday. While publishing this, the total digital market cap stands at $1.293 billion.
BTC market dominance decline to 45.74% on Tuesday before surging to a 46.84% high on Wednesday. While writing this content, Bitcoin has its dominance at 45.95%.
At the moment, Bitcoin trades at $31,698 after losing 0.60%. An unpredictable early morning saw the asset rising to $31,959 before dropping to the $31,673 lows.
Early on, BTC left its crucial resistance and support zones untested.
Other markets saw bearishness today morning.
While writing this content, Crypto.com led the losses by a 0.97% plunge.
For now, most cryptocurrencies need to defeat their pivot resistance to launch surges. That would necessitate the best market catalysts.
Stay around for more cryptocurrency updates.