Bitcoin Price Fails to Break Through $11K

Published on by Cointele | Published on

Bitcoin price slid from levels near $11,000 Aug. 20 as momentum which sparked bullish sentiment at the start of the week fizzled.

Data from Coin360 showed BTC/USD abandoning its shot at passing $11,000, having risen from levels near $10,700 on Monday.

The pair was trading back at those levels at press time, having dropped $350 over the past few hours.

24-hour gains for Bitcoin thus remained tapered at 2%, while weekly performance still revolved around an overall loss of nearly 6%.Bitcoin 7-day price chart.

Another fellow market analyst and trader, Filb Filb, was more buoyant, telling followers of his dedicated Telegram channel about the possibility of a break to $11,400.

Altcoins meanwhile failed once again to capitalize on previous gains.

A look at the top twenty cryptocurrencies by market cap shows most reversing progress made on Monday, when some outperformed Bitcoin itself.

Ether, the largest altcoin, then dropped 1.6% to slide back below $200. Litecoin dropped more at 2.3%, while XRP shed almost 5%.Ether 7-day price chart.

Only Monero and Bitcoin SV showed signs of life, gaining 1.2% and 0.8% respectively.

The overall cryptocurrency market cap was $276 billion on Tuesday, down $3 billion from the day before, while Bitcoin's share remained over 69%.Keep track of top crypto markets in real time here.

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