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Home » Market Updates » Bitcoin Dipped Below $19K, TerraClassicUSD Spikes 13% (Market Watch)

Bitcoin Dipped Below $19K, TerraClassicUSD Spikes 13% (Market Watch)

Author: Jordan Lyanchev

Last Updated Oct 21, 2022 @ 08:44

USTC is today’s best performer from the lower-cap alts, while BTC stands still at $19,000.

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Bitcoin continues to trade in a tight range, as the biggest fluctuation in the past 24 hours came when the asset slipped below $19,000 briefly.

The altcoins are also untypically stable. Terra’s original cryptocurrencies are among the best performers today.

Bitcoin Dipped Beneath $19K

Last week’s ending brought a lot of fireworks for the primary cryptocurrency, which went from $19,000 to under $18,200 and back up to $20,000 in less than 24 hours after the latest US CPI numbers came out.

It failed to breach $20,000, as with previous examples and returned to $19,000. The weekend was quite calm, with little-to-no movements in either direction. So was Monday.

The landscape started to change on Tuesday when the asset initiated a leg-up that resulted in nearing $20,000 once again. However, the scenario repeated, and BTC was stopped in its tracks.

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After getting back down to a familiar sight of $19,000, bitcoin calmed, except for one brief dip below that level. Nevertheless, it managed to recover the minor losses and now stands inches above $19,000 once again.

This comes amid reports claiming that retail investors’ BTC holdings have tapped a new all-time high, while whales’ have declined to a 3-year low.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

USTC on the Rise

The alternative coins have been mimicking BTC’s performance to a large extent for the past several days, meaning that most are untypically stagnant on a daily scale now.

Ethereum had risen to $1,350 earlier this week, but failed there, returned to $1,300 yesterday, and now sits under that level.

Cardano, Solana, MATIC, Shiba Inu, Tron, and Uniswap are also with minor daily declines. In contrast, Binance Coin, Ripple, Dogecoin, and Polkadot are slightly in the green.

XCN and USTC have added the most value in the day – up to 13-15%. As a result, the former sits at $0.0715, while the latter is close to $0.04.

But with most crypto assets trading without any major moves, the overall market cap has remained still as well at $925 billion.

Cryptocurrency Market Overview. Source: Quantify Crypto
Cryptocurrency Market Overview. Source: Quantify Crypto
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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.
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About The Author

Jordan Lyanchev
More posts by this author

Jordan got into crypto in 2016 by trading and investing. He began writing about blockchain technology in 2017 and now serves as CryptoPotato's Assistant Editor-in-Chief. He has managed numerous crypto-related projects and is passionate about all things blockchain. Contact Jordan: LinkedIn

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