These Altcoins Soar While Bitcoin Pushes Above $29K: Market Watch

2023-08-15 10:11:56

Bitcoin has been unable to make any forward progress in terms of price action throughout the past 24 hours, but it wasn’t for the lack of trying.

Meanwhile, some altcoins are charting considerable increases over the same period.

Bitcoin Price Can’t Push $30K

Throughout the last 24 hours, Bitcoin bulls made an attempt to push the price toward the coveted $30K level.

They managed to get BTC all the way up to around $29,700, but that’s when bears intercepted the move, as it’s clearly visible in the following hourly chart.

Source: TradingViewThey pushed the price back toward $29,400, where it’s currently trading, and Bitcoin ended the day completely flat, according to CoinGecko.

In any case, the presence of volatility, albeit low, is perceived as a refreshing mark in the industry, given how flat the market has been throughout the past month. It’s now interesting to see if the price will finally manage to escape its narrow range or if more of the same is incoming.

Some Altcoins Soar, Others Stagnate

The broader altcoin market has also been relatively calm throughout the past 24 hours, with certain exceptions, of course.

As seen in the heatmap below, most of the larger cryptocurrencies failed to chart any considerable increases and are trading close to flat on the day.

Source: Quantify CryptoHowever, there are a few cryptocurrencies that are pushing ahead of the herd considerably. First, FLEX Coin (FLEX) exploded by 16% throughout the past day and is undoubtedly the best performer for today.

THORChain (RUNE) is also up around 14%, but the cryptocurrency skyrocketed by almost 70% in the past week.

There’s also Hedera’s HBAR token which is up over 10% on the day, also making it one of the best performers.

On the other end of the spectrum, there’s Kaspa. KAS is down 12% in the last 24 hours and is today’s worst-performing cryptocurrency.

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