The cryptocurrency market wore an indifferent outlook on Tuesday as the pioneer digital asset declined by three percent. Judging from this week’s BTC price correction, the retracement currently holding at $38,564 is limiting a break from the crypto market cap. It still exerts dominance over altcoins at 46.1 percent.
Today, the crypto market cap saw a low swing by almost two percent. Exchanges as well recorded a drop of eight percent as investors await Bitcoin to break above $40k. Currently, Bitcoin’s decline to a $38k level leaves investors hoping for another break. Reiterating Glassnode’s analysis of a 30 percent surge in active Bitcoin addresses recently, analysts are still bullish.
Altcoin’s Momentum
Ethereum has taken on an impressive run, defiling the downtrend influence of Bitcoin to stay above the $2,500 mark. The rally behind this cryptocurrency has spun for about 13 days as its London Hard Fork is expected to go live by Wednesday. ETH only saw a one percent dip on the Intraday chart.
On the other hand, the altcoin section appears predominantly in red. Cardano and Binance Coin are down by two and three percent respectively. XRP took a much lower swerve by above four percent.
The top gainer in the market is Voyager Token (VGX) which surged up by 32 percent at the time of this report. Stacks (STX) trail behind it, up by 18 percent.
