Key Insights
Bitcoin is consolidating around $62,900, with Ethereum yet to break $3,500.
Leveraged trader losses have decreased to $81.5 million in the last 24 hours.
Bitcoin shows stability at approximately $62,420 and may shift bullish if this level holds.
Ethereum's candlestick from yesterday turned out to be a gravestone doji, which indicates a possible bearish reversal if the price falls below $3,330.
BONK and Mantra lead with double-digit gains in the last 24 hours.
The crypto market has seen little movement over the past 24 hours. Bitcoin managed to rise above $63,000 yesterday and is now consolidating around $62,900.
Market Overview
The crypto market's heatmap, as seen on CoinMarketCap, shows a return to mostly red, with bulls trying to consolidate their position and bears attempting to push prices down. Ethereum still struggles to break above the $3,500 mark, and Bitcoin's dominance remains steady at around 53.52%.
Liquidation Overview
Data from Coinglass indicates that despite the market's downturn, liquidation figures have eased, with leveraged traders losing about $81.5 million in the last 24 hours. There is a balance of sorts between the bulls and the bears, with bears losing $32.64 million and bullish liquidations at $48.85 million, suggesting slight bearish consolidation.
Bitcoin Analysis
Bitcoin is working on stabilizing and converting the $62,420 zone into support. The cryptocurrency has low volatility but remains stable. The RSI on the daily chart shows neutrality, suggesting a potential bullish shift if the $62,420 level holds. A break below this level could invalidate the incoming rally.
Ethereum Analysis
Yesterday’s candlestick formed a gravestone doji, a potential indicator of bearish reversal if Ethereum’s price falls below $3,330. Investors should watch for trend reversals, as this pattern often signals the end of a bullish trend.
Altcoins in Focus
BONK
BONK is leading the market with a strong rebound from $0.00001833 and a 10% price increase in the last 24 hours. It broke its previous local high of $0.00002515 and is trending upwards, potentially retesting $0.00004450 or higher.
Similar Story On Mantra (OM)
Mantra shows a similar pattern to BONK, up 10% in the last 24 hours, rebounding from $0.63 to $0.837. If the bulls maintain momentum, Mantra may soon retest the $1 price level.
Disclaimer: Voice of Crypto aims to provide accurate and up-to-date information but is not responsible for any missing facts or inaccuracies. Cryptocurrencies are highly volatile financial assets, so conduct your research and make your own financial decisions.
Meta Description: The crypto market has been mostly stagnant over the last day, with Bitcoin consolidating and Ethereum facing a possible trend reversal. However, BONK and Mantra are defying the trend with solid price increases, indicating potential buying opportunities.
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