In a drama-fuelled day in which former FTX head Sam Bankman-Fried was finally arrested on criminal and regulatory charges relating to the administration of his crypto empire, the markets brought forth a glimmer of hope for embattled holders.
Bitcoin (BTC) has spent the better half of these past 24 hours above the critical US$17,000 resistance point, with moving averages indicating a bullish push to the upside.
Currently changing hands at US$17,200, the bulls will seek to recapture US$17,300 before a move to US$18,000, though success is hardly a given.
Will bitcoin (BTC) keep its head above US$17,000? – Source: currency.com
Ethereum closed Monday’s trade in the green too, though at US$1,670, remains slightly below the seven-day high of US$1,280.
Few large-cap altcoins have made any noticeable waves in the past 24 hours.
Ripple (XRP) added nearly 2% before retracing its steps almost entirely in this morning's trading window.
BNB coin took a 4% plunge today following mass outflows from the Binance exchange, encouraged by negative press surrounding its latest audit. But the exchange token remains the fourth-largest cryptocurrency by market capitalisation with a currency value of US$43bn.
Cardano (ADA), Polygon (MATIC) and Polkadot (DOT) remain relatively unchanged.
On the upside, Toncoin, the native coin of the TON blockchain, continues to be the top riser with another 11% added over the past day.
Decentralised finance (DeFi) tokens Uniswap (UNI), Curve (CRV) and Lido (LDO) have also outperformed the market.
Global market cap across all cryptocurrencies is currently more than US$846bn.
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