Express

Bitcoin Needs To Stabilize For Altcoins To Continue Performing Well

Emily Mason

Summary: Altcoins have been gaining popularity over recent weeks, even as Bitcoin has been stuck sideways trading, but if Bitcoin is not able to show stronger signals then it may send both markets crashing. Bitcoin's most recent rejection at $9,400 on Monday, July 13 was reflected in altcoins suggesting that they are still correlated to Bitcoin's ...

Altcoins have been gaining popularity over recent weeks, even as Bitcoin has been stuck sideways trading, but if Bitcoin is not able to show stronger signals then it may send both markets crashing.

Bitcoin's most recent rejection at $9,400 on Monday, July 13 was reflected in altcoins suggesting that they are still correlated to Bitcoin's performance. Chainlink — which saw outstanding performance over the past two days — is down more than 3%.

One analyst argued in a tweet that Bitcoin must stay above $9,200 in order for altcoins to continue performing well. At the time of writing Bitcoin is trading at $9,245. 

By Emily Mason

Last Update:

Tags: ,,,
Link: Bitcoin Needs To Stabilize For Altcoins To Continue Performing Well   [Copy]
  • From Data Rights to Digital Property: Whistleblower Brittany Kaiser on Blockchain, RWA,... 4 days ago
  • The Base Chain's Ascent: How Deep Coinbase Integration and JPMorgan's Pilot Are Reshapi... 10 days ago
  • Tether in Trouble? U.S. Senate Just Passed a Law That Could Dethrone the $155B Stableco... 13 days ago
  • Justin Sun's Nasdaq Gamble: How Six Years Forged Ties with the Trump Family 15 days ago
  • The Crypto IPO Wave: From Fringe to Front Page 17 days ago
  • You need to login to comment.