BTC Battles For $36K As The Market Cap Revisited $1 Trillion

BTC battles for $36K position as its market cap reached $1 trillion again as BTC recovered from the weekend slump. On the other hand, BNB and LINK were making new records so let’s find out more in today’s Bitcoin news.

BTC’s adverse weekend ended with the asset bottoming below the $34K level but it managed to bounce off and top $36K position. Other coins like Binance Coin and Chainlink helped the market cap hit the $1 trillion level again. The main cryptocurrency was riding high above the $38,000 level before the weekend but the bears stopped further increases. They drove BTC’s price down south on a few occasions shortly after. The asset dipped to $34,500 before going back to $38,000 but BTC battles as it failed to maintain its price at this level and dumped again. This time, BTC bottomed below $34K on some exchanges.

The cryptocurrency regained some traction since then and it is now trading above $36K which was the first major resistance level in the cryptocurrency’s way up according to the technical aspects. Next obstacles for BTC are situated at $36,700, $38,000, $39,700 and $40,000 too. BTC could even rely on other support levels it another retracement arrives. Most bigger-cap altcoins remained steady on the day like Ethereum Bitcoin Cash, Ripple, Cardano, and Polkadot almost showed no movements. As a result, ETH is at $1120, XRP was trading at $0.28 and BCH was trading at $480.

Chainlink and binance Coin stole the show with huge gains and new records. LINK has exploded by about 10% and painted a new all-time high above the $23 level earlier today. A day after Binance announced the 15h token burn, the cryptocurrency of the exchange went for a new record of about $47. More gains were seen from lower cap altcoins as well like the Graph which leads with a 40% increase, Aragon with a 37% increase, OMG with 33%, Waves with a 28% increase, and Curve DAO with a 20% increase.

What’s even more impressive is what happened to the Defi space in the past few days and the total value locked in various protocols increased by 10% and sits at $24 billion. In the past day, plenty of other tokens saw massive increases and apart from the ones we talked about above, some of the other ones include YaM which is up by almost 100%, and SWRV which is up by 75%.