The Crypto Daily – Movers and Shakers – 11 October 2021

The Crypto Daily - Movers and Shakers - 11 October 2021

Steering clear of the first major support level at $53,939, Bitcoin rose to a late intraday high $56,450.0.

A mixed start to the day saw Bitcoin fall to an early morning intraday low $54,114.0 before making a move.

Highlights

  • Late in the day, the second major resistance level at $56,504 pegged Bitcoin back.

  • Bitcoin broke through the first major resistance level at $55,736 before falling back to sub-$55,000 levels and into the red.

The Rest of the Pack

The near-term bullish trend remained intact, supported the latest return to $56,000 levels. For the bears, Bitcoin would need a sustained fall through the 62% FIB of $27,237 to form a near-term bearish trend.

Across the rest of the majors, it was a bearish day on Sunday.

Chainlink slid by 6.52% to lead the way down.

Binance Coin (-4.20%), Bitcoin Cash SV (-3.60%), Cardano’s ADA (-3.48%), Ethereum (-4.48%), and Polkadot (-4.75%) also saw deep red. Crypto.com Coin (-0.36%), Litecoin (-2.82%), Ripple’s XRP (-2.09%) saw relatively modest losses, however.

It was a mixed week for the majors, however, in the week ending 10th October Binance Coin (-6.14%), Chainlink (6.94%), and Polkadot (-5.42%) led the way down.

Cardano’s ADA (-2.78%) and Ethereum (-0.15%) also struggled. It was a bullish week for the rest of the majors, however.

In the week, the crypto total market fell to a Monday low $2,009bn before rising to a Friday high $2,425bn. At the time of writing, the total market cap stood at $2,287bn. Bitcoin’s dominance fell to a Tuesday low 42.52% before rising to a Wednesday high 45.62%. At the time of writing, Bitcoin’s dominance stood at 44.97%.

Crypto.com Coin (+6.24%), Litecoin (+2.49%), and Ripple’s XRP (+7.67%) also joined Bitcoin in the green. Bitcoin Cash SV jumped by 19.28% to lead the way.