BTC bounces back slightly after dip below $11k, alts suffering

13 Jul, 2019 | Updated: 14 Jul, 2019
by David Robb
Price Action
BTC bounces back slightly after dip below $11k, alts suffering

Bitcoin's rally is continuing to falter, although it seems to be holding above $11k for now. The rest of the top cryptos have been performing poorly, with Ethereum (ETH) in particular having a bad time.

Total market cap / BTC dominance:

The total crypto market cap has fallen to $307.5 billion in the last 24 hours, losing over $15 billion. BTC dominance currently stands at 65.1%, as the long-awaited altcoin rally still hasn't happened.

Bitcoin (BTC)

BTCUSD chart by TradingView

After a brief spike back towards the $12,000 level, BTC hit serious resistance and tumbled for most of the past 24 hours. It briefly dropped below $11k but found strong support, bouncing back to around $11,300. $11.4k now seems to be an important resistance point that the top crypto needs to break in order to continue its rally in the medium-term.

Top 10

All of the top 10 cryptos have lost value in the past 24 hours, with the ever-volatile Bitcoin Cash SV (BSV) doing the worst, down almost 9 percent. Ethereum (ETH) recently lost a key support around $280, and some have predicted that it could be headed back towards $240 soon. It's down over 3 percent for the 24h period.

ETHUSD chart by TradingView

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