Share this article
Bitcoin Trades Flat While Altcoins Tease Bull Breakout
Bitcoin's struggle for direction continues amid growing signs of a bull reversal in alternative cryptocurrencies.
Updated Sep 13, 2021, 8:59 a.m. Published Mar 14, 2019, 11:10 a.m.
Make us preferred on Google
View
- Bitcoin is lacking clear directional bias for a ninth straight day, neutralizing the bullish view put forward by a long-tailed doji candle created on Feb. 27. As a result, a return to levels below $3,700 cannot be ruled out.
- A UTC close above the March 9 high of $3,950 would revive the short-term bullish outlook and possibly yield a rally toward the recent high of $4,190.
- While a few alternative cryptocurrencies (altcoins) have recently witnessed a longer-term bull reversal, the altcoin market as a whole is yet to exit the bear market. That could be about to change, though, as there are growing signs of seller exhaustion.
- A bull breakout in the altcoin market would be confirmed if and when the overall altcoin market capitalization beats the long-term falling trendline resistance, currently at $64.28 billion.
Bitcoin's struggle for direction continues amid growing signs of a bull reversal in alternative cryptocurrencies.
The leading cryptocurrency by market value is trapped in the range of $3,800 to $3,900 for a ninth straight day, contradicting the quick move toward the recent high of $4,190 suggested by the long-tailed doji candle created on Feb. 27. The immediate outlook, therefore, is neutral.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
As of writing, the cryptocurrency is flatlined at $3,847 on Bitstamp, representing a 0.10 percent gain on a 24-hour basis.
Further, BTC is reporting a meager 4 percent gain on a year-to-date (YTD) basis, as opposed to stellar gains in few altcoins. For instance, litecoin, the fourth largest cryptocurrency by market capitalization, is currently up 83.9 percent on a YTD basis.
Binance coin and holochain (HOT) are up at least 140 percent each, while and have gained 40 percent and 69 percent, respectively, according to OnChainFX.
Meanwhile, both the BTC and USD pairs of LTC, BNB, and have found acceptance above their respective 200-day moving average (MA) – a widely followed barometer of bull/bear markets.
As a result, speculation that the altcoin market has entered the bull market is gathering steam. However, while few alternative cryptocurrencies seem to have witnessed a bull reversal, the altcoin market as a whole is yet to violate the bearish trend, as seen in the chart below.
Altcoin market cap
On the weekly chart, the altcoin market capitalization (market cap) printed a higher low near $45 billion in early February, signaling bearish exhaustion. However, the trendline connecting January 2018 and April 2018 highs is still intact.
A weekly close (Sunday, UTC) above $64.28 billion (trendline resistance) could be considered an early sign of longer-term bullish reversal.
A bearish-to-bullish trend change, however, would be confirmed, if and when, the market cap jumps above $68.61 billion – a bearish lower high created on Dec. 24.
Bitcoin's daily chart
The week-long price consolidation in the range of $3,800-$3,900 seen in the above chart has weakened the bullish case put forward by the long-tailed doji candle created on Feb. 27. As a result, the 100-day MA support at $3,670 could again come into play.
On the higher side, a UTC close above $3,950 is needed to revive the short-term bullish outlook.
Disclosure: The author holds no cryptocurrency assets at the time of writing.
via Shutterstock; charts by Trading View
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Bitcoin stuck near $88,000 as gold's and silver's record-breaking rallies show exhaustion signs
"Gold and silver casually adding an entire bitcoin market cap in a single day," wrote one crypto analyst.
What to know:
- Bitcoin is off its worst levels of the weekend, but still near the year's low at $87,700.
- Facing the same news cycle as crypto, precious metals continued to surge higher, but a quick retreat from their highs on Monday suggested a bit of exhaustion was setting in.
- Analysts remain dour on the outlook for crypto prices given the looming government shutdown as well as delays in passage of the Clarity Act.
Top Stories
