A majority of cryptocurrencies sluggishly moved into profits as Bitcoin climbed over the $77,000 price mark over the last day. Bitcoin on Friday reflected a price hike of 1.89 percent to trade at $77,800 as of press time. The CoinMarketCap price chart shows Bitcoin fluctuating and receeding to $77,500 in regular intervals, Despite the profits, Bitcoin’s seven-day average price remains down by under one percent.
After a strong recovery, Bitcoin has hit a key long-term resistance zone, where momentum is starting to fade, market analysts told The Coin Headlines. Price action has shifted to consolidation with early signs of weakness, making the next support test crucial.
“Bitcoin faces profit-taking pressure near $80,000 and looming U.S. inflation data as high oil prices and rising bond yields weigh on risk assets. Bitcoin remained subdued yesterday, with only minor moves in either direction . On a broader horizon, Bitcoin is hovering near $76,500 after being rejected from the $79,000–$80,000 resistance zone. This pullback has softened short-term momentum,” said Piyush Walke, Derivatives Research Analyst, Delta Exchange. “For bulls to regain control, price needs to push back above $78,800–$79,500.”
Ether price rose by 1.93 percent in the last 24 hours. At the time of writing, ETH was trading at its crucial support zone of $2,310.
“Ethereum continues to trade sideways in the $2,240–$2,270 range, lacking the momentum needed for a decisive move. Momentum has faded in the crypto markets, and recent ETF outflows over the past three days could be adding to the sluggish price action,” Walke added.
A number of altcoins registered small gains alongside BTC and ETH on Friday. These include XRP, BNB, Solana, and Tron — all of which registered gains of slightly over one percent in the last 24 hours. Dogecoin, Hyperliquid, and Zcash, meanwhile, rose in price by around four percent each keeping in line with the overall market momentum.
The crypto market valuation went up by nearly two percent in the last 24 hours to stand at $2.59 trillion, data by CoinMarketCap said.
Source: CoinMarketCap
Shiba Inu, Toncoin, Cronos, Mantle, and Uniswap are among tokens that are trading in gains as of Friday. All of these above mentioned altcoins were unstable at the time of writing.
Meanwhile among tokens trading in the losses, Litecoin joined Polkadot, and Near Protocol in registering price dips. Bloomberg’s report on the Trump family quietly having sold off its World Liberty Financial business, the WLF token has dropped 6.5 percent to trade at $0.05 at the time of writing.
Over 73,080 investors were liquidated in the last 24 hours with total liquidations hitting $217.06 million, data by CoinGlass showed on Friday.
