In the last 24 hours, the cryptocurrency market has remained relatively calm. The total market cap is around $2.29 trillion, showing no significant changes compared to the previous day. Many major altcoins, including Bitcoin, are experiencing low volatility and have entered a consolidation phase. Such price movements are expected during weekends when trading volumes traditionally drop.
Bitcoin Holds Steady at $63,000
Bitcoin recently recovered from a dip, climbing back to $63,000, marking an important rebound. However, the price has since stabilized at this level, entering a period of consolidation. Investors are closely watching to see if BTC will hold this level or begin a new rally.
From a technical perspective, the 200-day moving average sitting at $63,400 is critical. This suggests that the current consolidation could be a preparation for another price surge. On the downside, if selling pressure increases, $61,000 serves as the first major support level, as it aligns with the 100-day moving average. Investors are monitoring whether buyers will step in if BTC dips to this level.
Altcoins: Aptos Shines
The altcoin market is also in a recovery phase after last week’s declines. While most altcoins are trading sideways, a few have managed to break away from the pack and post significant gains. Leading the charge is Aptos (APT), which surged by more than 20% in the last 24 hours, making it the best-performing token among the top 100 cryptocurrencies by market cap. Sui (SUI) also caught investors’ attention with a rise of over 10%, while AAVE and SEI saw gains of around 5-6%.
Aptos‘s rapid rise has sparked strong interest among investors. Factors driving this growth include developments on the Aptos blockchain, as well as increased investor confidence. Aptos is known for its strong presence in the DeFi and NFT sectors, which are contributing to the growing demand for the token.
Sui (SUI), while relatively new, has quickly gained attention for its promising technology and team, positioning itself as a project with significant potential. Its impressive short-term performance has been a key factor in attracting investor interest.
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