Bitcoin price corrected to around $34,800, then recovered to about $35,400. In 24 hours, digital gold fell by about 4%, according to CoinGecko.
Ethereum price collapsed below the $2000 level. At the time of writing, the asset trades at around $1,990.
The total market capitalization stands at $1.4 trillion. Bitcoin’s dominance index is 49.2%.
MN Trading founder Michaël van de Poppe wrote that testing the marks in the $34,800–$35,200 range could provide an ‘additional impulse toward the highs’.
#Bitcoin seeking for support.
Scenario is still valid, in which a test around $34.8-35.2K could give further strength towards the highs.
These dips are usually entry points for altcoins. pic.twitter.com/H2XdlMxLnW
— Michaël van de Poppe (@CryptoMichNL) November 14, 2023
In his view, such price dips are ‘entry points for altcoins’.
Earlier JPMorgan called the crypto rally ‘overblown’, likely to reverse sharply after the anticipated approval of the Bitcoin-ETF.