BBitcoin Indecisive Below $10,500 as Altcoins Continue to Suffer (Wednesday Market Watch).
After losing billions of dollars of its market cap, Bitcoin shows signs of recovery as it nears $10,500. The situation with alts is slightly different as some large caps are struggling. Most of the cryptocurrency market is finally taking a breather after a few consecutive days of price drops. Bitcoin sits just shy of $10,500, but some large-cap altcoins like Ethereum are still displaying issues. Bitcoin Hovers Around $10,500 In the past couple of days, Bitcoin went from a top of $11,150 to a bottom of below $10,300. The primary cryptocurrency correlated with the price performances of other financial markets. Gold and equities plummeted similarly following rising COVID-19 confirmed cases in Europe. Since yesterday, though, the asset has displayed minor recovery signs. The free-fall stopped, and BTC even headed towards $10,600. However, the bears didn’t allow any further price increases and drove the price down to its current level – around $10,450. In case Bitcoin continues recovering, it needs to overcome the first resistance at $10,580, followed by $10,700, and $10,840, before having a chance to face $11,000. Alternatively, the support levels that could assist if it drops lower are $10,300, $10,200, and $10,000..