Though BTC is down 2.10% over the past 24 hours, some mid-capitalization altcoins have not followed the drop. Tezos ( XTZ) and IOTA surged more than 15% today and are up at least three days in a row. However, profit-taking was seen in mid-caps that had risen earlier. Zcash ( ZEC) is down 8%, and Cosmos ( ATOM) retreated around 5%.
Chainlink ( LINK) retraced 4% and is still trading near $13. LINK has been down for two days after getting rejected at $14.45. Ether ( ETH) and Bitcoin Cash ( BCH) declined by 1.36% and 2.89%, respectively. Meanwhile, EOS regained some momentum — adding 2.86% over the past 24 hours.
While Bitcoin is trading sideways above $11,000 and major altcoins are flying, the Crypto Fear & Greed Index has set a new high of 84 for the year. At a time when bullish sentiment is high among retail participants, traders may be wary of a potential pullback. The last time the index hit these levels was in June 2019, after which the Bitcoin price began to fluctuate sharply around $12,000.
Top altcoin gainers and losers
AERGO, which went live on OKEx on July 22, has successfully broken out of its v-shaped reversal structure and is up 35% in the last 24 hours. It is trading near $0.07, which is 23% above its listing price.
Polkadot ( DOT) saw its third consecutive week of gains. DOT has now come above $400 after gaining 17.67% over the last 24 hours. It is up 130% from its July 16 issuance price of $176.
Meanwhile, BitKan ( KAN) jumped 20.4%.
NDN Link ( NDN) plunged 23.05% and is, as such, the biggest loser. Nebulas ( NAS) lost 13.45% today after gaining 29.47% yesterday.
Aave (LEND) now listed on OKEx
Famous DeFi Protocol Aave (LEND) is now listed on OKEx.
LEND deposit has been active since 4:00 am UTC today and spot trading (LEND/USDT, LEND/ETH, LEND/BTC) will be available at 9:00 am UTC Aug. 12.
OKEx to support DOT split
On July 27, the Polkadot ( DOT) community voted to pass the plan for its x100 split. According to the official announcement, the transfer of DOT will come into effect on Aug. 18 and the DOT split plan will be initiated on Aug. 21.
OKEx will support DOT’s x100 split plan and will provide a temporary solution for DOT spot, margin and perpetual swap transactions during the split.
BTC technical analysis
Yesterday’s fast drop was again supported by the four-hour MA60. Bullish sentiment remains high, but we have seen that the Bitcoin price is finding it more difficult to make new highs.
An intraday threshold is located around $11,700 with a midterm critical level sitting at $10,670. There is a potential bearish divergence on the four-hour MACD indicator.
Visit https://www.okex.com/ for the full report.
Disclaimer: This material should not be taken as the basis for making investment decisions, nor be construed as a recommendation to engage in investment transactions. Trading digital assets involve significant risk and can result in the loss of your invested capital. You should ensure that you fully understand the risk involved and take into consideration your level of experience, investment objectives and seek independent financial advice if necessary. OKEx Insights presents market analyses, in-depth features, original research & curated news from crypto professionals.
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