15:13Bitcoin’s Sideways Action Continues at $58K: DOGE About to Flip BNB
After falling to $55,000 yesterday, bitcoin recovered more than $3,000 of value and tapped $58,000. Most alternative coins are somewhat stagnant on a 24-hour scale, except Dogecoin. The meme coin charted a new all-time high hours ago and is close to overcoming BNB as the third-largest digital asset.
Bitcoin Heads for $58K
Moreover, the subsequent rejections drove BTC down by a few thousand dollars. Another similar example transpired on Thursday when bitcoin slumped from $58,500 to $55,000 in a matter of hours.
However, the situation seems a bit more favorable for the cryptocurrency now. Following its latest dip, the asset has bounced off rather immediately. As a result, bitcoin spiked to an intraday high of $58,750 (on Bitstamp).
This comes amid numerous reports that whales and institutions keep accumulating, while miners and retail investors have ceased selling in large portions.
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According to the technical indicators, bitcoin has to overcome the resistance at $58,355 decisively before potentially challenging the next one at $60,000.
Could DOGE Flip BNB?
However, some alts have calmed in the past 24 hours. Ethereum painted its latest ATH yesterday at above $3,600 but has retraced slightly to below $3,550. Binance Coin and Ripple are slightly up to $630 and $1.6, respectively.
In contrast, Polkadot and Cardano have charted minor losses on a 24-hour scale.
Nevertheless, DOGE has stolen the show again. As reported earlier, Dogecoin reached a new all-time high at $0.74 following Elon Musk’s most recent pro-DOGE comments.
As a result, the meme token’s market cap came just $5 billion away from surpassing BNB’s.
Further gains come from BakeryToken (30%), Bitcoin Diamond (28%), Horizen (27%), Fantom (19%), Cosmos (18%), THETA (16%), ICON (10%), Venus (10%), and Celsius (10%).
Ultimately, the total crypto market cap has remained around $2.4 trillion.
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