Bitcoin returns to $ 11,000 USD

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Bitcoin is showing its strength once again. With the rise of the last 48 hours, see the $ 11,000, recovering 50% of the soil lost with the fall at the beginning of the month.

It is a counter-trend movement with Altcoins that remain burdened and unable to take advantage of the Bitcoin pull.

Source: COIN360.com

In the Top15 this morning the king of cryptocurrencies is the only green sign with an increase of + 2%. Moving on, after two positive days, the red sign is back with more than 80% of the tokens in negative territory.

For the third day in a row, Hyperion (HYN) is the winner on the podium with an increase of 15%. In just three days the token I earn more than 450%, recovering 2/3 of the fall that at the beginning of the month in just a few days has lowered the value by more than 85%, going from one dollar to about 16 cents.

The Hyperion project aims to create a free access decentralized platform for cartographic maps, including spatial maps.

ABBC Coin (ABBC) follows with an increase of + 10%.

XMR 20200916

Among the main names, Monero (XMR) and Stellar (XLM) are up 2% from yesterday morning's levels.

DeFi, TVL on the rise and tokens in trouble

In contrast, there are the steep declines for decentralized finance tokens: SushiSwap (SUSHI), Aragon (ANT) and Loopring (LRC), all falling by more than 15%.

The recovery of locked value in DeFi continues, today at a rate of $ 9 billion.

DeFiPulse 20200916

Aave (LEND) maintains the lead with $ 1.4 billion locked into decentralized protocol. This is followed by Maker, another decentralized loan service, and Curve Finance with more than $ 1 billion, the first of the open exchanges (DEX).

The number of blocked Ether has once again exceeded 7 million, of which 40% is deposited in the Maker project, followed by Sushiswap and Uniswap.

Bitcoin leads in capitalization and dominance

Total market capitalization stays above the $ 345 billion, thanks to Bitcoin, which recovers more than $ 11 billion in three days, absorbing the bleeding Alts.

The dominance of Bitcoin has also increased, with a recovery of two points in the last hours, slightly more than 58%. An event that deflated so much Ethereum below 12% like to XRP a little over 3%, one step away from the June lows, the lowest level in the last three years.

BTC 20200916
Bitcoin chart by Tradingview

Bitcoin (BTC) to $ 11,000

The increase in the last hours causes prices to return to just over $ 11,000 after two weeks. This is a positive sign of moderate optimism with trading above $ 2 billion for the second day in a row. This has not happened since the first week of September.

Once the first resistance at $ 10,850, which has now turned into support, was demolished, hedges moved between $ 11,100 and $ 11,630, levels defending the actual resistance at $ 11,890.

Exceeding this level would likely restore confidence, attracting new purchases and a reversal catalyzed by the recovery from the highs at the beginning of the month. Conversely, a return below $ 10,500 would threaten bearish clouds for a retest of $ 10,000.

ETH 20200916
Ethereum chart by Tradingview

Ethereum (ETH)

The hesitant attempt to raise prices yesterday to check the zone of 385-390 USD, the highest on record over the weekend, was rejected.

Traders continue to be cautious about upside hedging on call options that doubled down on put option hedging.

A jump above $ 415 USD is required to regain confidence; otherwise the current high is just a pause before bearish strength returns. To avoid falling, the levels to defend at all costs are first $ 355 USD and then $ 305 USD.



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