Bitcoin bulls did their best to hold the important psychological level of $30K. This happens on the back of a broader consolidation across the entire market as most of the altcoins are trading flat over the past 24 hours.
Bitcoin price holds at $30,000
Yesterday the price of Bitcoin fell below $30,000 for a brief period, but the bulls were very quick to defend the level and brought it back above within hours as seen in the chart below :
At the time of this writing, the cryptocurrency is charting a daily increase of around $1.8%. The market seems to have calmed down a bit today, but the liquidations for the past 24 hours remain relatively high at above $200 million, according to data from Coinglass.
Bitcoin is in the lead, with around $133 million in liquidated positions. The biggest liquidation order was on Bybit – a BTC/USD order with a face value of $3 million.
Altcoins in Consolidation Mode
The altcoin market seems to be in consolidation mode, albeit painted almost entirely in green. Most of the large-cap cryptocurrencies remained flat for the past 24 hours, with a few slight exceptions.
As the heatmap above shows, the altcoin market did not produce significant gains, but on the other hand, it also stopped bleeding, which could be interpreted as a good sign.
Yet, the cryptocurrency fear and greed index once again dropped towards the 10 basis points indicating “extreme fear” after having bounced a bit over the last few days.
