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