Categories: Bitcoin Latest News

Bitcoin Struggles To Retain The $20,000 Mark While ENS Protocol Gains

In the past two days, Bitcoin triumphantly hit the critical level of $20K. This sudden push from the primary crypto asset was after hovering between $18K and $24K regions for some months. But following the effects of some macroeconomic factors, the price of BTC was rounding the $19K region.

This year has been the toughest for crypto assets and other financial instruments. But the struggle to remain valuable is seemingly paying off as most coins are currently regaining loss values. Even though the Feds are still hawkish, the market is gradually moving towards a bullish sentiment.

However, the bullish trend in the broader crypto market is spreading gradually. The leading crypto kept its position strongly despite the bears struggling to take over.

The appearance of the bulls has deterred further decline for BTC. Other cryptocurrencies are taking to the north, with Ethereum Name Service (ENS) emerging as the top performer.

With the new movement of prices, the cumulative market cap has hit $964.91 billion, indicating a surge of 0.70% over the past 24 hours. The overall implication of events shows a slight improvement in the trend compared to yesterday and last week. However, the broader crypto market sentiment still has elements of fear.

Bitcoin Consolidates The $20K Level

After hitting the critical level of $20,000 a few days ago, Bitcoin is currently displaying its sustainability. The asset has defended its stance on the level and also made an impressive consolidation. This was noted in the early trading hours of September 6, as the price of BTC reached $20,200.

It’s worth noting that the bears tried to pull down the price of Bitcoin yesterday as the token recorded $19,730 on Binance. Remaining at the critical level is the only chance for the leading crypto to make further uptrend.

At the time of writing, Bitcoin is hovering around $19,862 depicting a loss. Its market cap has reached over $386.2 billion, while its dominance over altcoins is at 40.04%.

Bitcoin depicts a loss on the chart l BTCUSDT on Tradingview.com
Altcoins Are Calm, While ENS Surged

The price movement for the altcoins show calmness, with a minimal drop for a few tokens. Most of the assets have consolidated their reclaims in the past day.

But the Ethereum Name Service’s coin, ENS is taking the lead with an almost 11% increase in today’s early hours trading. At the press time, ENS is trading at $16.91. EVMOS is closely following. Recall that EVMOS was the worst crypto asset in price performance as of yesterday. For Ripple (XRP), it seems to be a time of strength with progressive performance.

Featured image from Forbes, chart from TradingView.com

In the past two days, Bitcoin triumphantly hit the critical level of $20K. This sudden push from the primary crypto asset was after hovering between $18K and $24K regions for some months. But following the effects of some macroeconomic factors, the price of BTC was rounding the $19K region.

This year has been the toughest for crypto assets and other financial instruments. But the struggle to remain valuable is seemingly paying off as most coins are currently regaining loss values. Even though the Feds are still hawkish, the market is gradually moving towards a bullish sentiment.

Related Reading: Hedera: Investors Should Check Out These Data Before Buying HBAR

However, the bullish trend in the broader crypto market is spreading gradually. The leading crypto kept its position strongly despite the bears struggling to take over.

The appearance of the bulls has deterred further decline for BTC. Other cryptocurrencies are taking to the north, with Ethereum Name Service (ENS) emerging as the top performer.

With the new movement of prices, the cumulative market cap has hit $964.91 billion, indicating a surge of 0.70% over the past 24 hours. The overall implication of events shows a slight improvement in the trend compared to yesterday and last week. However, the broader crypto market sentiment still has elements of fear.

Bitcoin Consolidates The $20K Level

After hitting the critical level of $20,000 a few days ago, Bitcoin is currently displaying its sustainability. The asset has defended its stance on the level and also made an impressive consolidation. This was noted in the early trading hours of September 6, as the price of BTC reached $20,200.

It’s worth noting that the bears tried to pull down the price of Bitcoin yesterday as the token recorded $19,730 on Binance. Remaining at the critical level is the only chance for the leading crypto to make further uptrend.

At the time of writing, Bitcoin is hovering around $19,862 depicting a loss. Its market cap has reached over $386.2 billion, while its dominance over altcoins is at 40.04%.

Bitcoin depicts a loss on the chart l BTCUSDT on Tradingview.com

Altcoins Are Calm, While ENS Surged

The price movement for the altcoins show calmness, with a minimal drop for a few tokens. Most of the assets have consolidated their reclaims in the past day.

Related Reading: Polkadot Seeing Lots Of Development Activity – But Why Is DOT Stuck In The Cellar?

But the Ethereum Name Service’s coin, ENS is taking the lead with an almost 11% increase in today’s early hours trading. At the press time, ENS is trading at $16.91. EVMOS is closely following. Recall that EVMOS was the worst crypto asset in price performance as of yesterday. For Ripple (XRP), it seems to be a time of strength with progressive performance.

Featured image from Forbes, chart from TradingView.com

Tags: bitcoinBTCUSDTcryptoENSethereum

NewsBTCRead More

Recent Posts

Bitcoin Rally Benefits From US Buyers – Coinbase Premium Gap Reveals Strong Demand

Bitcoin has surged past the $99,800 mark, setting another all-time high as it inches closer…

45 minutes ago

Analyst Sounds Bearish Alarm For Bitcoin As $100,000 Presents Psychological Resistance

Despite heightened expectations for the Bitcoin price to hit the $100,000 milestone, a crypto analyst…

7 hours ago

Bitcoin Funding Rates Surge 20% On Major Exchanges — What’s Happening?

The price of Bitcoin picked up this week from where it left off in the…

14 hours ago

This Analyst Correctly Predicted The Bitcoin Price Jump To $99,000, But His Prediction Is Not Done

A crypto analyst who accurately forecasted the Bitcoin price increase to the $99,000 All-Time High…

17 hours ago

54% Of Bitcoin Supply Inactive Since 2 Years Despite 500% Price Jump

On-chain data shows a majority of the Bitcoin supply hasn’t moved in more than two…

18 hours ago

Cboe’s New Cash-Settled Bitcoin ETF Options: Could This Spark A Move Beyond $100,000?

Cboe, the derivatives exchange for digital assets and securities trading, is set to make a…

22 hours ago