Bitcoin Rejected at $40K, Nexo Soars 15% on Binance Listing (Market Watch)

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Bitcoin tried its hand at $40,000 yesterday but was quickly stopped in its tracks and now sits below it. ApeCoin went on to register yet another all-time high amid the growing anticipation for Otherside, while Nexo soared by double digits following a listing on the world’s largest crypto exchange.

Bitcoin Stopped at $40K

The enhanced volatility in the crypto market continued in the past 24 hours. CryptoPotato reported yesterday the recent high fluctuations that started on April 25 when bitcoin challenged $41,000 but was violently rejected.

As a result, the asset fell by over $3,000 in hours and plummeted below $38,000 for the first time since March 15. It reacted somewhat positively to this price decline and bounced off to just under $40,000.

It went even further during yesterday’s trading day and spiked above that coveted level. However, that was a short-lived adventure as it fell below it almost immediately. As of now, BTC stands at $39,500, and its market cap is still around $750 billion.

BTCUSD. Source: TradingView

ApeCoin New ATH, Nexo Double-Digit Surge

The altcoins faced similar price movements in the past few days, with many of them being in the red on a weekly scale.

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Ethereum traded above $3,000 last week but dipped below $2,800 a few days ago. It also reacted well to this price drop and now stands above $2,900.

Binance Coin went beneath $400 and stood there yesterday as well. However, a minor daily increase has pushed BNB to north of that line as of writing these lines.

Solana, Ripple, Terra, Cardano, Polkadot, Dogecoin, Avalanche, Shiba Inu, and CRO are slightly in the red. Near Protocol has lost the most from the larger-cap alts (-5%).

ApeCoin continues to register new heights and has tapped a new ATH at above $22. Nexo is another impressive performer following a listing on Binance. As a result, the asset jumped by about 15%.

The crypto market cap has remained relatively still and is slightly above $1.8 trillion.

Cryptocurrency Market Overview. Source: Quantify Crypto
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Alexandr Kerya

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