The Crypto Daily – Movers and Shakers -10/05/20

Fibo Quantum

Bitcoin slid by 2.66% on Saturday. Following a 1.88% fall on Friday, Bitcoin ended the day at $9,537.8.

A mixed start to the day saw Bitcoin rise to an early morning intraday high $9,900.0 before hitting reverse.

Falling short of the first major resistance level at $9,976.6, Bitcoin slid to a late morning intraday low $9,606.7.

Bitcoin fell through the first major support level at $9,656.6, before briefly revising $9,870 levels.

A bearish end to the day left Bitcoin at sub-$9,600.

The near-term bearish trend, formed at late June 2019’s swing hi $13,764.0, remained firmly intact, reaffirmed by the March swing lo $4,000.

For the bulls, Bitcoin would need to break out from $10,000 levels to form a near-term bullish trend.

The Rest of the Pack

Across the rest of the majors, it was a mixed day for the pack on Saturday.

Bitcoin Cash ABC and Tezos led the way, with gains of 1.96% and 2.22% respectively. Bitcoin Cash SV and EOS also avoided the red, with gains of 0.15% and 0.03% respectively.

It was a bearish day for the rest of the majors, however.

Binance Coin and Litecoin led the way down, with losses of 2.10% and 1.66% respectively.

Cardano’s ADA (-1.04%), Litecoin (-1.66%), Monero’s XMR (-0.50%), Ripple’s XRP (-0.97%), Stellar’s Lumen (-0.66%), and Tron’s TRX (-0.43%) also saw red.

Through the current week, the crypto total market cap rose from a Monday low $240.56bn to a Friday high $271.32bn. At the time of writing, the total market cap stood at $239.40bn, with a bearish start to the day seeing the market cap slide to a current week low $238.37bn.

Bitcoin’s dominance rose from 65% levels to hit 68% levels on Friday before easing back. At the time of writing, Bitcoin’s dominance stood at 66.9%.

24-hour trading volumes fell to a Tuesday current week low $145.07bn before jumping to a Friday high $205.18bn. At the time of writing, 24-hr volumes stood at $179.11bn.