{"id":472130,"date":"2021-09-21T22:00:20","date_gmt":"2021-09-21T22:00:20","guid":{"rendered":"https:\/\/wncen.com\/?p=472130"},"modified":"2024-06-11T13:58:49","modified_gmt":"2024-06-11T13:58:49","slug":"mid-cap-altcoins-hold-highs-bitcoin","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/mid-cap-altcoins-hold-highs-bitcoin\/","title":{"rendered":"Mid-Cap Altcoins Hold Onto Highs Better Than Bitcoin And Ethereum"},"content":{"rendered":"

Bitcoin kicked off this week on the red, and the rest of the crypto market followed. In the top 10 cryptocurrencies by market cap, BTC and Ethereum are amongst the most resilient for the weekly chart.<\/p>\n

In that time, the market has been hit by a succession of \u201cbuy the rumor, sell the news\u201d events, and one major macro factor with the potential default of Chinese real state giant, Evergrande. Thus, the levels of uncertainty have been on the rise.<\/p>\n

Related Reading | <\/em>Did Bitcoin Really Experience A Flash Crash Down To $5,400?<\/a><\/strong><\/p>\n

In the middle of this storm impacting Bitcoin and other major cryptocurrencies, there is a select group that has managed to stay in the green. According to a recent report by Arcane Research, the assets that comprised their middle-cap altcoins index recorded some profits as the bearish trend unfolded.<\/p>\n

For the 30 days chart, the Mid Cap Index comprised of cryptocurrencies such as Tezos, Algorand, and Avalanche showed small profits. These tokens have seen a massive rally during Q3, 2021, and were amongst the biggest losers during this week\u2019s bearish trend, but they are still up 5% in the monthly chart, as seen below.<\/p>\n

\"Bitcoin
Source: Arcane Research<\/figcaption><\/figure>\n

In opposition, Bitcoin records a 9% loss in the 30-day chart with similar losses for Ethereum, Cardano, Solana, Binance Coin, and other major cryptocurrencies. Smaller assets experienced the highest losses for this period with a 14% loss by September 21. Arcane Research noted:<\/p>\n

As often happens during market turmoil, the Bitcoin dominance increases, as altcoins often act as high beta play on the crypto sector. The last week, bitcoin\u2019s market share increased by 1.14% grabbing market share from the other big coins like ETH, ADA, and SOL.<\/p><\/blockquote>\n

Bitcoin Reacts To Macro Factors, What\u2019s Next?<\/h2>\n

In a separate report, investment firm QCP Capital analyzed the bigger picture for Bitcoin and the crypto market. Although mid-caps preserved part of their gains in higher timeframes, they will most likely follow BTC\u2019s price trajectory in the short term despite their fundamentals.<\/p>\n

Related Reading |\u00a0<\/em>Bitcoin Holders Take Profits As Price Falls, Indicators Remain Bullish?<\/a><\/strong><\/p>\n

The first cryptocurrency by market cap faces September, a month that has historically been bearish for the asset, and potential complications from regulators in the U.S. and the performance on the Asia markets due to Evergrande.<\/p>\n

As QCP Capital noted, tomorrow September 22, will be crucial to determine the trend in the short term. Bitcoin must hold the $40,200 support in case of more downside pressure when the market re-open after a long weekend.<\/p>\n

Related Reading | New To Bitcoin? Learn To Trade Crypto With The NewsBTC Trading Course<\/a><\/strong><\/em><\/p>\n

The firm expect some government intervention to rescue the real estate company. This could result in the best-case scenario for Bitcoin and the crypto market, but there is a lot of fear and uncertainty about China\u2019s approach. QCP Capital said:<\/p>\n

(\u2026) the lack of guidance so far from Chinese regulators is scaring the market. The fear here is that President Xi could allow. Evergrande to fail as an example to the other real estate players ahead of the 100th anniversary of Chinese Communist Party (CCP) in 2022. He has already taken draconian steps with Big Tech and Education. At this point, the market has already priced in Evergrande\u2019s equity as worthless (\u2026).<\/p><\/blockquote>\n

At the time of writing, Bitcoin trades<\/a> at $42,814 with a 2.6% loss in the daily chart.<\/p>\n

\"Bitcoin
BTC with small losses in the daily chart. Source: BTCUSD Tradingview<\/a><\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"

Bitcoin kicked off this week on the red, and the rest of the crypto market followed. In the top 10 cryptocurrencies by market cap, BTC and Ethereum are amongst the most resilient for the weekly chart. In that time, the market has been hit by a succession of \u201cbuy the rumor, sell the news\u201d events, and one major macro factor with the potential default of Chinese real state giant, Evergrande. Thus, the levels of uncertainty have been on the rise. Related Reading | Did Bitcoin Really Experience A Flash Crash Down To $5,400? In the middle of this storm impacting Bitcoin and other major cryptocurrencies, there is a select group that has managed to stay in the green. According to a recent report by Arcane Research, the assets that comprised their middle-cap altcoins index recorded some profits as the bearish trend unfolded. For the 30 days chart, the Mid Cap Index comprised of cryptocurrencies such as Tezos, Algorand, and Avalanche showed small profits. These tokens have seen a massive rally during Q3, 2021, and were amongst the biggest losers during this week\u2019s bearish trend, but they are still up 5% in the monthly chart, as seen below. In opposition, Bitcoin records a 9% loss in the 30-day chart with similar losses for Ethereum, Cardano, Solana, Binance Coin, and other major cryptocurrencies. Smaller assets experienced the highest losses for this period with a 14% loss by September 21. Arcane Research noted: As often happens during market turmoil, the Bitcoin dominance increases, as altcoins often act as high beta play on the crypto sector. The last week, bitcoin\u2019s market share increased by 1.14% grabbing market share from the other big coins like ETH, ADA, and SOL. Bitcoin Reacts To Macro Factors, What\u2019s Next? In a separate report, investment firm QCP Capital analyzed the bigger picture for Bitcoin and the crypto market. Although mid-caps preserved part of their gains in higher timeframes, they will most likely follow BTC\u2019s price trajectory in the short term despite their fundamentals. Related Reading |\u00a0Bitcoin Holders Take Profits As Price Falls, Indicators Remain Bullish? The first cryptocurrency by market cap faces September, a month that has historically been bearish for the asset, and potential complications from regulators in the U.S. and the performance on the Asia markets due to Evergrande. As QCP Capital noted, tomorrow September 22, will be crucial to determine the trend in the short term. Bitcoin must hold the $40,200 support in case of more downside pressure when the market re-open after a long weekend. Related Reading | New To Bitcoin? Learn To Trade Crypto With The NewsBTC Trading Course The firm expect some government intervention to rescue the real estate company. This could result in the best-case scenario for Bitcoin and the crypto market, but there is a lot of fear and uncertainty about China\u2019s approach. QCP Capital said: (\u2026) the lack of guidance so far from Chinese regulators is scaring the market. The fear here is that President Xi could allow. Evergrande to fail as an example to the other real estate players ahead of the 100th anniversary of Chinese Communist Party (CCP) in 2022. He has already taken draconian steps with Big Tech and Education. At this point, the market has already priced in Evergrande\u2019s equity as worthless (\u2026). At the time of writing, Bitcoin trades at $42,814 with a 2.6% loss in the daily chart.<\/p>\n","protected":false},"author":535,"featured_media":468283,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1119,1144],"class_list":["post-472130","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btc","tag-btcusd"],"acf":[],"yoast_head":"\nMid-Cap Altcoins Hold Onto Highs Better Than Bitcoin And Ethereum<\/title>\n<meta name=\"description\" content=\"Bitcoin kicked off this week on the red, and the rest of the crypto market followed. 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Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times. In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson\u2019s \u2018Neuromancer.\u2019 The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau\u2019s \u2018Civil Disobedience.\u2019 But that\u2019s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term. In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry. Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.","sameAs":["https:\/\/www.linkedin.com\/in\/reynaldo-mrquez-2ab111190\/","https:\/\/x.com\/rl_m"],"url":"https:\/\/wncen.com\/author\/reynaldomarquez\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Mid-Cap Altcoins Hold Onto Highs Better Than Bitcoin And Ethereum","url":"http:\/\/wncen.com\/news\/mid-cap-altcoins-hold-highs-bitcoin\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/mid-cap-altcoins-hold-highs-bitcoin\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/07\/bitcoin-3.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/07\/bitcoin-3.jpeg?fit=2500%2C1736"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Reynaldo Marquez"}],"creator":["Reynaldo Marquez"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btc","btcusd"],"dateCreated":"2021-09-21T22:00:20Z","datePublished":"2021-09-21T22:00:20Z","dateModified":"2024-06-11T13:58:49Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Mid-Cap Altcoins Hold Onto Highs Better Than Bitcoin And Ethereum\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/mid-cap-altcoins-hold-highs-bitcoin\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/mid-cap-altcoins-hold-highs-bitcoin\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/07\\\/bitcoin-3.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/07\\\/bitcoin-3.jpeg?fit=2500%2C1736\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Reynaldo Marquez\"}],\"creator\":[\"Reynaldo Marquez\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btc\",\"btcusd\"],\"dateCreated\":\"2021-09-21T22:00:20Z\",\"datePublished\":\"2021-09-21T22:00:20Z\",\"dateModified\":\"2024-06-11T13:58:49Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/07\/bitcoin-3.jpeg?fit=2500%2C1736","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/472130"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/535"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=472130"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/472130\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/468283"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=472130"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=472130"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=472130"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}