A classic volatility surprise excites rather than concerns traders, but altcoins lose out heavily. Bitcoin (BTC) kept traders on their toes on Tuesday as a sudden price dip sparked a retest of $50,000. Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it shed $2,000 in two hours Tuesday. The pair had hit $52,960 — nearly a four-month high — before consolidating and then heading lower.
The volatile conditions mark a memorable day for Bitcoin adoption, coming as El Salvador becomes the first country in history to adopt a partial “Bitcoin standard.” For traders, the BTC price reversal, which at the time of writing had cooled at $50,500, was likely merely a technical event.
“Shaking out some late longs I’d expect,” popular social media trader Crypto Chase commented. “Still confident we see 54.7K~ hit as long as 50K can hold as support (fairly obvious 12HR level to work with here).”
As Cointelegraph reported, funding rates this week signaled bullish bias, with expectations of profitable shorts providing a potential opportunity for a squeeze upward. Cointelegraph contributor Michaël van de Poppe agreed, highlighting even $49,000 as a reasonable target, which would still give no cause for concern.
# | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
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Bitcoin predictions | 61.2% | 87 | $29 380.18 | -3.28% | -2.43% | $559 642 402 733 | ||
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Ethereum predictions | 59.2% | 88 | $1 959.56 | -5.15% | -4.83% | $236 921 809 457 | ||
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Tether predictions | 92.4% | 1 | $0.998958 | -0.01% | 0.02% | $73 198 714 964 | ||
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USD Coin predictions | 91.6% | 1 | $1.000329 | 0.03% | -0.01% | $53 273 212 846 | ||
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Binance Coin predictions | 61.2% | 88 | $321.57 | -3.53% | 6.21% | $52 504 644 349 | ||
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XRP predictions | 58% | 91 | $0.403749 | -5.20% | -5.34% | $19 518 470 146 | ||
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Binance USD predictions | 92.8% | 1 | $0.999393 | -0.21% | -0.08% | $18 312 587 333 | ||
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Cardano predictions | 59.2% | 93 | $0.515615 | -6.46% | -10.22% | $17 403 339 497 | ||
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Solana predictions | 60% | 91 | $50.05 | -7.03% | -9.13% | $16 981 972 785 | ||
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Dogecoin predictions | 58% | 90 | $0.082722 | -5.26% | -7.04% | $10 974 841 808 | ||
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Polkadot predictions | 60.4% | 90 | $9.97 | -5.87% | -7.56% | $9 850 001 505 | ||
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Wrapped Bitcoin predictions | 57.2% | 87 | $29 401.79 | -3.22% | -2.31% | $8 132 620 498 | ||
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TRON predictions | 73.2% | 56 | $0.081939 | 7.58% | 16.52% | $7 754 289 182 | ||
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Avalanche predictions | 58.4% | 93 | $28.73 | -10.25% | -14.09% | $7 737 939 953 | ||
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Dai predictions | 90.8% | 1 | $1.000302 | -0.03% | 0.01% | $6 573 514 573 |
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