DO NOT PUT the text in quotes! in the style of the ny times, serious journalistic content. re write the following title and keep it interesting for the user, remove any mention of, do not put quote “, just write a new title (only 1 title): BTC Rejected at $27.5K, While LDO, LTC Dumped by 6% Daily (Market Watch)

Bitcoin Attempts to Break Resistance at $27.5K But Fails

Bitcoin made an impressive move in the past 24 hours, attempting to break the resistance level at $27,500. However, the cryptocurrency was violently rejected at this point, resulting in a drop of almost $1,000. Currently, BTC is struggling to stay above $27,000. Glassnode recently reported that BTC has been trading in a tight 3.4% range for over a week, meaning that the asset stands between $26,500 and $27,500 without being able to break above or below these levels. The analytics company warned that more enhanced volatility could be right around the corner, and the markets experienced a glimpse of this in the past 24 hours.

The altcoins have also turned red on a daily scale, with LTC and LDO losing the most value from the top 36. Ethereum, which spiked above $1,850 yesterday, is down below $1,820 after a 2% drop. A similar decrease for BNB means that the asset has gone under $310. Ripple, Cardano, Dogecoin, Polygon, Solana, Tron, Polkadot, Shiba Inu, and Avalanche are also in the red today. Even more daily drops come from Litecoin and Lido DAO – both assets have declined by 5-6%. TONCOIN and LEO stand out as the only top 36 alts with minor daily gains.

The crypto market cap has suffered a decline of over $20 billion in a day, down to $1.120 trillion. This comes amid the growing number of reports suggesting that BTC investors have focused on HODLing instead of trading their assets.

– Glassnode
– TradingView

J-S Tremblay
About the author - J-S Tremblay

I've been involved in the cryptocurrency world since 2016 and trading since 2019. I started Moon and Lambo in 2021. I'm passionate about crypto and love to share my knowledge. I hate bankers and I hope that cryptocurrency will change the financial world for the better. View full profile...

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