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    Home » Market Updates » Bitcoin Sideways Action at $20K Goes on as Celsius Network (CEL) Skyrockets 28%: Market Watch

    Bitcoin Sideways Action at $20K Goes on as Celsius Network (CEL) Skyrockets 28%: Market Watch

    Author: George Georgiev

    Last Updated Sep 2, 2022 @ 17:45

    Despite the choppy price action, Bitcoin managed to remain above $20K, while a lot of the altcoins are charting slight gains.

    During the past day, most of the cryptocurrencies managed to recover slightly from the previous choppy price action. This resulted in the total market capitalization reclaiming the coveted $1 trillion level. Celsius Network’s CEL token seems to be the main outlier.

    Bitcoin Flat at $20K

    The past 24 hours were relatively calm for Bitcoin. The cryptocurrency reclaimed the important $20K level, albeit not so convincingly. At the time of this writing, it is trading at around $20,100 (on Binance).

    img1_bitcoin_chart1
    Source: Binance via TradingView

    It’s worth noting, though, that BTC did drop to $19,500 once again. It appears that this level provides serious support because the cryptocurrency dipped toward it on a few occasions, and it prevented any further sell-offs each time.

    The entire day saw about $23 million worth of liquidations across the entire Bitcoin market.

    Altcoins Chop, CEL Skyrockets

    Out of the top 100 coins by means of total market capitalization, the most obvious outlier seems to be CEL. The cryptocurrency skyrocketed by a whopping 28% over the past 24 hours in a market that’s relatively flat.

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    Source: Quantify Crypto

    Most of the altcoins are charting slight increases, recovering from the previous choppy downward price action and targeting some key levels once again. ETH eyes $1.6K after gaining 3.2% in the past day. ATOM is up a more considerable 8%, while other major coins like XRP, ADA, SOL, DOT, and ETC are also up.

    This has brought the total market capitalization above $1 trillion once again. It has also helped improve the overall sentiment.

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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.
    Tags: Bitcoin (BTC) Price
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    About The Author

    George Georgiev
    More posts by this author

    Georgi Georgiev is CryptoPotato's editor-in-chief and a seasoned writer with over four years of experience writing about blockchain and cryptocurrencies. Georgi's passion for Bitcoin and cryptocurrencies bloomed in late 2016 and he hasn't looked back since. Crypto’s technological and economic implications are what interest him most, and he has one eye turned to the market whenever he’s not sleeping. Contact George: LinkedIn

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