Bitcoin Price Solid at $64,000 as Cardano (ADA) Rises 4% Daily – Weekend Watch

The cryptocurrency market is painted green today, with most coins trying to recover.

However, it is too early to tell if the worst is behind us, and the gains over the past 24 hours are quite mild compared to the previous decline. Let’s take a look.

Bitcoin price consolidates at $64,000

As CryptoPotato reported yesterday, BTC fell to a low of $63,400, marking a 5-week low amid a turbulent and declining crypto market.

It seems, however, that over the past 24 hours, the bulls have managed to regroup and have so far halted the decline. BTC is trading at around $64,000.

Source: TradingView

That said, the derivatives market has also cooled. Total settlements on the last day are around $27 million, which is low compared to previous days.

The long-to-short liquidation ratio is also in balance, indicating that buyers and sellers are currently trying to re-establish their positions.

Altcoins Recover, ADA Rises 4%

Altcoins are also plotting a recovery with most of them trading in the green today, albeit posting fairly mild gains.

For example, XRP is only up 0.6%, SHIB – 1.3%, SOL – 0.5%, ETH – 0.86%, etc.

Source: Quantify Crypto

There are certain exceptions, of course. Cardano (ADA) rose as much as 3.7% over the past 24 hours, becoming one of the best performers.

Toncoin (TON) exploded by 6% and is the leading large-cap altcoin. Other top gainers on this list include AVAX, up 3%, PEPE, up 4.12%, and MATIC, up 3%.

Of the top 100 cryptocurrencies by total market capitalization, the best performer is JASMY, which is up 11%. It is followed by BRETT and Kaspa (KAS), both of which rose 7.7%.

At the other end of the spectrum is Fetch.AI (FET), which declined 4.4% and is the worst performer over the past 24 hours.

SPECIAL OFFER (Sponsored) Binance Free $600 (Exclusive to CryptoPotato): Use this link to register a new account and receive an exclusive welcome offer of $600 to Binance (full details).

2024 LIMITED OFFER on BYDFi Exchange – Up to $2888 Welcome Reward, Use this link to register and open a 100 USDT-M position for free!

Disclaimer: The information found on CryptoPotato is that of the quoted writers. It does not represent CryptoPotato’s views on whether to buy, sell or hold any investment. You are advised to do your own research before making any investment decisions. Use the information provided at your own risk. See the disclaimer for more information.

TradingView Cryptocurrency Charts.