The crypto market today continues to show a bearish pattern for Bitcoin (BTC) and Ether (ETH), the largest cryptocurrencies in the world. As a result, altcoins also failed to rise, except for Tez (XTZ) and Chiliz (CHZ) which showed a relative improvement in the market.
XTZ and CHZ become the biggest performers of the week
Bitcoin is still trending below $21,000 with resistance at $21,500. The prices remain unchanged since last week with no improvements or sudden shoot in between. Currently, BTC trades at $21,046 at the time of writing.
With BTC down, ETH is trading at a low of 1,200 support level with no gains for the week. Other altcoins are also down with Cardano (ADA) trading at $0.49, BNB at $239, Solana (SOL) went down by 6% to $0.26, and DOGE struggles at $0.0750.
Among many altcoins, XTZ and CHZ were the biggest gainers of the week. XTZ, the native token of the Tezos blockchain, went up by 11% with the current price at $1.66, while CHZ, the native token of the Chiliz blockchain, gained 25% with the current price at $0.117486.
The NFT market seems to be struggling as well with all the prices down. It has failed to gain investors’ and traders’ trust following the crash.
The crypto market is expected to remain down until BTC rises from its current resistance zone. If in any case, BTC drops below $20,000, it could result in another crash for the whole crypto and NFT market.