Is $35K slipping away? As reported yesterday, the price of Bitcoin was trading above $34,000 and appeared to be heading towards $35,000. Today, the price remains above $34k, but it has failed to reach the desired resistance level and is trading with a loss of about 0.7% over the past 24 hours.
Elimination data is also interesting to monitor. According to CoinGlass, the total volume of liquidations in the last 24 hours falls short of $100 million. The majority of these were long positions, accounting for 63% of the total. This shows that bears were more dominant during this period. The majority of liquidations, as always, occurred on Binance, followed by OKX and Bybit.
Altcoins are receiving mixed signals, with Ripple’s XRP leading the way. Ripple’s XRP is one of the best performing cryptocurrencies in the top 10. During the day, it managed to grow by about 2.6%, and it is aiming for the $0.6 mark. It will be interesting to see if this coin can achieve this. Solana (SOL) is also slightly ahead of the rest of the top 10, up 4.3% on the day.
It is worth noting that Bitcoin dominance has fallen below 51% today. This is a metric that traders use to assess its share relative to the rest of the market. The fact that it has declined indicates that altcoins have outperformed Bitcoin over the past 24 hours.
