Bitcoin tries to hold $4,000, bulls losing momentum

Red has been dominating the charts for the past 24 hours, putting a stop to a winning streak which started last Sunday and pumped the market up beyond all-time lows.

Tron is still remaining as the best performing coin on the top 20, packing up gains close to 9%, while its market cap looks much healthier now, about to touch $1,400 million, than a week ago when it was below $1,000 million. On the contrary, both Bitcoin SV and Waves are losing more than 10% of their price over the last hours.

At writing time, Bitcoin is on the $3,850 – $3,950 range, seemingly searching for a new direction after climbing back from slightly lower ranges where it was pushed after breaking down the $4,000 mark.

Global market capitalization is back above $130 billion, after taking a dive below on Friday when the current short term downtrend started, as price rose beyond $135 billion.

Despite the losses in most of the top 10 projects, today is not at all the worse day for the market. Out of the top 100 coins, more than 30 are still packing gains. Linkey currently overwhelms the rest with more than 672% increase.

However, it appears as if the large increase is mostly due to a flash crash which happened yesterday and causes the corresponding percentage increase. Buggyra Coin Zero is the second most successful project over the last 24 hours, close to a 50% increase in price. 

On the other side of the table, Bitcoin SV and Waves are the biggest losers of the day, closely followed by Bitcoin Diamond.

Read more: Tron (TRX) up 18 percent, in a mixed day for the market; Is it still profitable to mine Bitcoin these days?

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