Bitcoin price holds onto $10,200 support as markets trade sideways

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Bitcoin’s (BTC) price has been hovering above the $10,200 support since yesterday. However, at one stage, the OG cryptocurrency managed to push through to the $10,300 resistance despite trading sideways for most of the day.

Bitcoin price movement

Yesterday saw Bitcoin (BTC) hit a low of $10,080 before spiking to an intraday high of $10,400. Today, however, the world’s number one cryptocurrency is trading at $10,289.55 as per data from CoinMarketCap.

Rakesh Upadhyay, a crypto analyst believes that bitcoin’s price could remain stable as traders prepare themselves ahead of Bakkt’s highly-anticipated Bitcoin futures platform.

Jay Clayton, a chairman of the United States Securities and Exchange Commission stated that despite the significant steps which have been taken to address regulatory concerns surrounding a Bitcoin exchange-traded fund, there remains much work to be done.

Altcoin markets still seeing modest gains

As for the altcoin markets, modest price gains are the name of the game. The number two cryptocurrency, Ether (ETH) is up by 1.84% and changing hands at $182.28 at the time of writing. The third-largest crypto by market cap XRP is up by a measly 0.88%, Bitcoin Cash (BCH) is up by 1.61% and trading at $306.86 and EOS is up by 2.61%.

Litecoin (LTC) is the biggest winner of the day, up by 3.05% and selling for $71.42 at the time of writing. The only two top ten cryptos in the red on the day are Bitcoin SV (BSV) and Monero (XMR) down by 4.16% and 2.19% respectively.

The biggest gainer in the top twenty cryptocurrencies is Cardano (ADA) which is up by 3.21% and trading at $0.047486.

The total market capitalization of the cryptocurrency market is sitting at $264,893,379,377 with Bitcoin’s market dominance at 69.8%. Be sure to check in again at 14:00 for your latest cryptocurrency news and prices.

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