The price of Bitcoin (BTC) and those of traditional assets did not move in alignment last night. The S&P 500 Index closed higher on Monday as the possibility of the United States Congress passing another round of fiscal stimulus ahead of the November elections boosted interest in risk assets. Gold futures prices also closed 0.9% higher.
BTC was hovering between $10,800 and $11,000 during trading hours in the U.S. However, heading into the early Asian session, the most well-known cryptocurrency saw shrinking buying volume and eventually gave back its previous gains. BTC has fallen 1.83% in the past 24 hours but is still trading above the short-term critical support level of $10,600.
Meanwhile, BTC has traded above the $10,000 mark for 65 consecutive days — surpassing the previous record set during the 2017–2018 bull market.
Major altcoins, while in the red across the board, are generally down less than BTC. Ether ( ETH), for example, lost 1.56%.
Polkadot ( DOT) was the best performer among major altcoins and is up about 5% overnight. It has risen 10% in the last seven days. The total cryptocurrency market capitalization dropped 1.4% and now sits below $350 billion, as per data from CoinGecko. Meanwhile, BTC dominance dropped to 57.0%.
The total value locked in decentralized finance projects has set another record. It reached $11 billion for the first time, as per data from DeFi Pulse.
However, we observed as many as six tokens within the OKEx DeFi spot list that have fallen by more than 10% overnight. Uniswap ( UNI) suffered four consecutive trading days of declines and, after rebounding to $5 yesterday, it quickly fell back to $4.20. Its critical support level is located at $3.80.
Top altcoin gainers and losers
The newly listed Rio DeFi ( RFUEL) surged 53.57% from its opening price of $0.14 and is trading above $0.20, as of press time.
OMG Network ( OMG) rallied 27.45% in the past 24 hours. The price rally is strongly related to its rising number of daily active addresses, according to data analytics company Santiment.
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