Bitcoin Rejected at $44K: Dogecoin Sees Monthly High Subsequent Tesla News (Market Watch)

Bitcoin failed at conquering $44, 000, and the subsequent being rejected drove it south simply by $2, 000. Most altcoins are also well in the red nowadays, with Dogecoin being one of the few exceptions. DOGE hopped by double-digits following information from Tesla.
Bitcoin Turned down at $44. 5K
Following the latest price drop upon Monday, in which the primary cryptocurrency dumped below $40, 500 for the first time in nearly 4 months, the asset began to reclaim value somewhat quickly. It jumped to $42, 000 before another lower-leg up drove it in order to $44, 000 on Wed as the US announced the highest inflation rate amounts in 40 years.
After a short retracement, BTC went back for the offensive and spiked to some weekly high of $44, five hundred yesterday. However , this is where the problem changed as the bears found play hard.
Instead of going further north, bitcoin left by more than $2, 1000 in hours. As of now, BTC has reclaimed a few 100 dollars, but it’s nevertheless around 3% down on the afternoon.
As a result, its market capitalization has declined to just more than $800 billion.

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BTCUSD. Source: TradingViewAlts Retrace: Doge Explodes
The alternative cash have mimicked BTC’s overall performance as of late, with notable increases in the past two days. However , the particular landscape is quite different nowadays.
Ethereum came close to $3, 400 yesterday, but the 3% decline has pressed the second-largest crypto in order to under $3, 300.
Binance Coin, Solana, Cardano, Ripple, Polkadot, Terra, Avalanche, Shiba Inu, and MATIC are in the red today.
In contrast, Dogecoin is up by double-digit proportions. This is a direct consequence associated with positive news coming from Elon Musk’s Tesla. The ELECTRONIC VEHICLES giant enabled its clients to use the popular memecoin to purchase its products which caused the particular surge.
NEAR Protocol, which usually closed a funding circular worth $150 million last night, is up by 4% on the daily scale.
Ultimately, although, the crypto market cover has declined by $80 billion since yesterday’s top and is down to just over $2 trillion.

Cryptocurrency Market Review. Source: Quantify Crypto

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Cryptocurrency charts by TradingView.

Tags: Bitcoin (BTC) Price Dogecoin

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Regarding the Author

Jordan Lyanchev
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Jordan had crypto in 2016 simply by trading and investing. Started writing about blockchain technology within 2017. He has managed several crypto-related projects and is interested in all things blockchain. Contact Michael jordan: LinkedIn