Bitcoin fell below $30,000 support on January 27 as existing market trepidation grew thanks to a bizarre bull run in a single U.S. stock. BTC quickly lost steam during Wednesday trading, with highs of $32,860 swiftly flipping to daily losses of 11%.
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Markets Report: Another all-time high for Bitcoin as Max Keiser predicts $220K top for 2021
BTC again defies expectations of a drop with a push to $35,600 following positive news from U.S. regulators
After lingering near $30,000 support in the aftermath of Monday’s serial volatility, Bitcoin showed signs of a recovery during trading. These culminated in daily gains of over 10%. At press time, $35,000 still formed a focal price point.
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Bitcoin saw volatility and XRP crashed on news of an SEC suit against Ripple roiled markets (Photo: CoinMarketCap)Markets Report: Bitcoin volatility returns as Ripple lawsuit sparks 33% XRP loss
A 33% daily dive for XRP underscores market nervousness over regulatory action as Ripple hits back at an “attack” by the establishment
XRP was down nearly 30% over 24 hours at press time. Having retaken its position as the No. 3 cryptocurrency by market capitalization from stablecoin Tether (USDT) following a November rally, XRP dropped back to fourth place today, according to CoinMarketCap. Bitcoin also appears to have been affected by the market turmoil, with heavy volatility causing it to drop and then bounce by more than $1,000 over four hours early this morning.
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Markets Report: Bitcoin cools near $23,000 after vanquishing final resistance
“Nothing for sale” until $28,000, Max Keiser argues as the market takes stock of its record-breaking daily performance
Bitcoin stabilized near all-time highs on December 17 after 24 hours of intense trading sealed its third-best week in history. The previous day had seen volatility suddenly explode as Bitcoin knocked over $20,000 resistance in a single sudden move which only reversed at $23,800. That level appeared to put an end to the uninhibited bull run which resulted from BTC/USD, removing the last resistance hurdle on its chart.
