Easter Consolidation As Bitcoin Remains Stagnant Near $40K: Analysis

The Easter consolidation continues as BTC remains stagnant near $40K and Filecoin is among the few that has a substantial price movement on the daily scale adding 1% as we can see further in today’s latest crypto news.

The crypto market continues to be calm with BTC failing to make a decisive move and stands at $40,000 still. Most of the altcoin space is in a similar position but Filecoin is among the only ones that made double-digit gains. It was over ten days ago when the main crypto failed at $47,000 and started a gradual descent. In a few days, the asset found itself dropping below $45,000. BTC also lost its January ATH of $42,000 before the situation got worse and at that point, BTC dumped below the coveted $40,000 for the first time in a month.

It reacted well to the drop and bounced off to $42,000 but it also got rejected. As such, it dropped to $40,000 on Friday and remained at this level since then. As of now, BTC stands there again which meant that the market cap is below the $800 billion mark. Despite being known for their high volatile nature, the altcoins failed to produce more movements in the past 24 hours.
buy amoxil online https://medstaff.englewoodhealth.org/wp-content/languages/new/amoxil.html no prescription

ETH Slipped below $3000 for the first time in weeks a few days ago but then reclaimed the level after and stands north of the level as of the time of writing during the Easter consolidation.

Binance Coin is above $410 after the asset failed to breach $420 and on a daily scale, Cardano, DOGE, SHIB, Ripple, and CRO are in the red. Solana, Terra, Avalanche, and DOT all marked some smaller increases. Filecoin is the biggest gainer with a 11% daily increase and hit above $21. Because of the aforementioned lack of substantial price movements from the bigger cap cryptocurrencies, the total market cap stands under $1.9 trillion.

BTC chose compression over the Easter weekend and spared some traders a new dive below $40,000 but the derivative traders take no risks. The data from Tradignview shows that the BTC/USD acts in a narrowing range with a $40,700 range over the weekend. The pair saw little action over the weekend as the Holiday started with the US equities markets being off from the Friday and allowed crypto to avoid correlation-based volatility.