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.
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%.
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.
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.
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.
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.