Market situation: Bitcoin stops at the same time as Atrium and Altcoins jump
Over the past 24 hours and under the influence of negative news, the growth of bitcoin prices has almost stopped. However, some altcoins have grown by between 5 and 13 percent during this period.
to the Report The bitcoin market yesterday was almost volatile yesterday, while penins such as Atrium and Solana have grown more than 7% in the last 24 hours. LUNA, Terra’s main digital currency, has seen 13% growth over the period, and investors are pursuing new incentive programs for the protocol.
Trading situation in financial markets around the world has shifted slightly since US Federal Reserve Chairman Jerome Powell announced that easing monetary policy may be lifted sooner than expected. This can have a negative impact on the price of high-risk assets, such as stocks and digital currencies. Despite these short-term fluctuations, some analysts still have an upward view of Bitcoin.
Nikita Rudenia, co-founder of 8848 Invest, said:
Although the November Kendall of Bitcoin closed below the expected $ 60,000 target, investors are still optimistic that the digital currency could repeat its historic trend with a brilliant uptrend by the end of this year.
Rodney expects the price of bitcoin to reach $ 70,000 by the end of 2021, yet other analysts have expressed concern about the downtrend in bitcoin trading options.
The Delphi Digital Research Institute wrote in its report yesterday:
Put Option contracts are becoming more expensive as market participants hedge risk. [سرمایهگذاریهای خود] They focus on immediate market positions or downward trades. Genesis Volatility Platform [که در زمینه تحلیل بازارهای اختیار معامله ارزهای دیجیتال فعالیت میکند] In his new tweet, he mentioned the high volume of short-term selling options contracts.
Also read: What is an Option Contract?
Bitcoin dominance rate falls
The ratio of the bitcoin market value to the market value of other digital currencies, or bitcoin dominance rates, has fallen by about 10 percent over the past two months, reaching its lowest level since September. The fall in bitcoin dominance reflects the better performance of penins during this period.
Some analysts see the market move from bitcoins to altcoins as a sign of greater risk-taking among investors.
Better performance of Atrium compared to Bitcoin
Atrium, which has long been the second most valuable digital currency on the market, reached its previous high of $ 4,800 just hours ago and has risen more than 7% in the past 24 hours. At the same time as Atrium jumped, Bitcoin has been virtually immobile, and technical indicators suggest that Atrium could continue to grow more than Bitcoin.
The image below shows Atrium vs. Bitcoin price chart, and as it turns out, the price candle in this chart is trying to get out of a 5-month channel. If the price candle closes above the 0.080 level for two consecutive days, Atrium could experience further growth against Bitcoin.
