The bulls have regained some semblance of control today, judging by the 0.46% increase in total market cap from $1.68 trillion yesterday, to $1.69 trillion today.
The crypto market’s heatmap has also turned green today, as shown below:
The bullish price movement on the crypto market’s heatmap is relatively small on Bitcoin today, and more pronounced on the altcoins. Bitcoin’s dominance has also declined slightly from above 50% to around 49.75%. Both of these factors hint at a sort of altcoin dominance being inbound.
The crypto market's liquidations over the last day, have also increased slightly to around $105 million. This time around, the bulls have a very small edge over the bears, having lost only $50 million to liquidations compared to the bears’ $55 million.
Today, we can conclude that the bulls have control of the market. This control isn't so pronounced, but it's a work in progress.
Another Decline On Bitcoin?
Bitcoin’s supposed rebound from $41,444 as shown below, is turning out to be a hoax.
Bitcoin, after travelling up for a little bit, has now declined and is printing red after red candle as shown above.
A real indicator that Bitcoin's recovery wasn't valid, would be a break below $42,065, or yesterday's low. Bitcoin currently trades at around $42,773 and has only moved up by around 0.3% over the last day.
Ethereum Takes The Lead
Ethereum, for some reason, is doing much, much better than Bitcoin. While Bitcoin struggles to rally by 0.5%, Ethereum is currently up by 1.4% and is making one higher high after another, from a medium-term perspective.
The above setup on Ethereum shows a very valid bullish perspective, with Ethereum currently testing the $2,565 support, which was also Thursday's high from last week.
If things play out as expected, we are bound to see Ethereum retake $2,700 and travel further upwards to the $3,000 target.
Soccer Tokens Are On The Rise
Today, we have several soccer-affiliated tokens rallying strongly, and ranking as some of the best performers on Binance.
For example, we have the Santos FC token, rallying by 59% and ranking as the #1 best performer with a price tag of $5.41.
Up next is Lazio FC’s token, with a 19% price increase, a #4 rank on Binance, and a price tag of $2.56. Finally, we have the Porto and PSG FC tokens, with 14% and 11% price increases respectively, as well as $2.42 and $3.7 price tags respectively.
Maverick Protocol (MAV) Joins The Ranks
For some reason, MAV has joined the ranks as the 8th hottest cryptocurrency on Binance. The cryptocurrency is up by 14% over the last day at the time of writing and currently trades at $0.64.
According to the charts, MAV has been on a tear as of late, rallying from around $0.45 to today's intra-day high of around $0.68.
MAV is in a consolidation phase of around $0.64 at the time of writing, and a retest of the $0.56 resistance is possible. However, MAV looks bullish overall, and the rally is bound to continue.
