Bitcoin embarked on another downward slide today, which began in the latest Twitter messages from Tesla CEO Elon Musk. This gave the bears another step on Friday and the after-pains are still clearly noticeable today.
At the time of this writing, Bitcoin is trading at USD 35,860, a loss of 2.4% for the day. At the same time, a trading volume of USD 32.6 billion illustrates the wait-and-see attitude of investors. After a bullish week and another attack on the important USD 40,000 mark, the price dumped to the level of the previous week over the weekend. After Tesla CEO Elon Musk posted a "breakup" meme on Friday, the BTC rate plunged south in a rush. Once again, this chain reaction illustrates the power Elon Musk wields over crypto space.
What's next?
After falling below the support line at USD 36,000, it mutates into a stubborn resistance. Further up, the next barriers are at $ 38,000, $ 38,600, and $ 40,000. From a bullish perspective, many investors hope for positive news from the ongoing “Bitcoin 2021” conference in Miami. At the world's largest crypto conference, politicians, athletes, and stars talk about their attitudes towards cryptocurrencies.
The Bitcoin Dominance Index dropped to 39.9% on Saturday. Currently, USD 670 billion of the total market capitalization (USD 1.68 trillion) is in BTC investments. Accordingly, the alternative assets can book another partial success in the tug-of-war with the first mover. This success can be explained by the strong weekly performance of projects such as Ethereum (+ 7.8%), BINANCE Coin (+ 19.6%), Cardano (+ 10.5%), and Dogecoin (+ 20.8%) .
Binance Coin BNB puts the strongest performance of all top 10 coins on the crypto floor on Saturday. Although the Coin has to clear its place on the crypto podium, a daily plus of + 2.4% indicates a quick comeback. At the time of writing, BNB is priced at $ 395 and a market cap of $ 61.1 billion.
In addition to Binance Coin BNB, projects such as Solana (+ 9.3%), Cosmos (+ 2.9%), THETA Fuel (+ 10.5%) can draw attention to themselves on Saturday. Further down, “Cumrocket” reacts to a new Musk tweet with a price jump of + 188%, because of course, it does, what an amazing fit too! Musk And Cumrocket the next love story in the making.
