ApeCoin remains the only top crypto with significant upticks as most assets, including Bitcoin, recorded new losses.
The $40,000 mark appears challenging for Bitcoin to overcome as the leading crypto remains below the level. While writing these lines, BTC changed hands at $38,611.48, losing 0.56% within the past 24 hours. Most altcoins mimicked Bitcoin’s actions, dipping into the red again. However, ApeCoin defied odds while anticipating its much-awaited ‘Otherside’ sale.
BTC Struggles Under $40K
Bitcoin noted an impressive uptick on 25 April, adding approximately $3,000 within hours. That saw the world’s largest crypto approaching the $41,00 mark following the latest nosedives. However, BTC could not keep this momentum as bears triggered another southward move. Furthermore, this plummet was intense, and Bitcoin explored levels beneath $38K, breaking a more than six weeks record.
BTC responded well in this area and rebounded towards the $40,000 mark. The pair slightly surpassed the area, but dominant bearishness in the broad market saw it on another southward move. For now, the bellwether crypto hovers beneath $39K, whereas its market cap fell well below $750 billion.
APE Decouples from Broad Market Sentiment
The altcoin industry has suffered within the past few sessions, and the dominant red landscape affirms such narratives. Ethereum hit $3K some days ago but could not steady at the value area. The leading altcoin dropped towards $2,900 yesterday before losing nearly 3% to explore levels beyond $2,800.
Binance Coin traded at $397, with a slight 0.44% increase over the previous day. Meanwhile, a 3.5% daily drop has Solana well beneath the $100 mark. Other alts in red include Terra, Ripple, Shiba Inu, Dogecoin, Cardano, and Polkadot. MATIC, Avalanche, and Near Protocol suffered most among large-cap tokens, losing about 7% each.
ApeCoin continues to outshine other assets in the marketplace. Anticipation of its much-awaited Otherside sale saw APE jumping by another 13%, nearing its recent ATH near the $27 mark. Meanwhile, most alts witness a bloodbath, with the cryptocurrency market cap losing $50 billion to levels well below $1.8 trillion. While publishing this blog, the market value of all digital coins stood at $1.75 trillion.
