BNB Saw 5-Month Peak Amid Binance Settlement Reports, BTC Stopped at $38K (Market Watch)


21 Nov 2023 8:23 AM

Binance Coin is among the few altcoins in the green now as well....

  • Binance Coin (BNB) is one of the few altcoins currently in the green.
  • Bitcoin (BTC) attempted to break the $38,000 resistance level but was unsuccessful.
  • Many altcoins, including SOL, LINK, MATIC, AVAX, and DOGE, have experienced significant losses.
  • BTC's unsuccessful attempt to surpass $38,000 resulted in a price rejection, dropping the cryptocurrency below $36,000.
  • BTC recovered some ground and traded between $36,000 and $36,500 for a few days.
  • On Monday, BTC jumped to $37,500 but was stopped at $37,800.
  • Despite the downward pressure, BTC is still trading above $37,000 with a market cap of around $730 billion.
  • Binance's potential settlement with US regulators for $4 billion had a positive effect on BNB, causing it to surge from $240 to almost $270.
  • BNB has since lost some traction but remains 4.5% up for the day, making it the only larger-cap altcoin in the green.
  • Other altcoins like Solana, Dogecoin, Chainlink, Polygon, and Avalanche have experienced significant losses.
  • The total crypto market cap has decreased by around $20 billion but remains above $1.4 trillion.

The sentiment in the article is mixed. While Bitcoin's attempts to break the $38,000 resistance level have been unsuccessful, Binance Coin's positive news has caused it to surge. Other altcoins have experienced losses, leading to a decrease in the total crypto market cap.

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