Bitcoin still reels from its recent setbacks as most digital currency trading floors still provide a rather shaky outlook for the crypto as of yesterday.
Uncertainty still looms
BTC global average made a modest climb to $3,469, over the 24-hour course. On Bitfinex, it retreated to $3,504. This is essential because if Bitfinex falls, so does the bitcoin market.
Interestingly, Bitfinex has surged higher compared to the rest of the market, as most analysts have noticed of late.
In some instances, the trend results to an uncertain arbitrage opportunity of up to $100. For instance, Litecoin hit the $34 level on the world market average, while EOS struggles to reach the $2.50 mark, but remains at $2.38. On the other hand, Stellar slumps below $0.08, as Bitcoin SV keeps falling.
BTC momentarily below $3,400
Coinbase trading early yesterday pushed Bitcoin deeper to the $3,399 mark, though momentarily, before bouncing back which merged in the price as of this posting at $3,425.
Going back to Bitfinex, which looks poised to set the bar for majority of the market, BTC/USD pair registered a dismal True Strength Indicator (TSI), while Litecoin finally breached the $34 boundary it has been targeting since last week.
If projections of a downward slide does happen for bitcoin – and Litecoin maintains its strong momentum – a promising altcoin-Bitcoin bond may be in the offing.
Meanwhile, Litecoin has dipped below the $34 level over at Coinbase, after peaking at $34.11 for the day. Consistently enough, Litecoin’s volume exceeded $700 million, which is more than EOS or XRP, both of which have greater market cap as we speak.