QNT Leads Altcoin Rally, BTC Price Aims at $85K Again: Weekend Watch
Bitcoin’s rather calm price behavior continues over the weekend, but the asset is gradually grinding toward the $85,000 mark after defending the $83,000 support on Friday.
Some altcoins have produced impressive gains over the past 24 hours, but Quant’s QNT trades in a league of its own after a recent bullish development.
BTC Eyes $85K
The previous business week began with a bang as the largest cryptocurrency exploded from the $80,000 support and blasted through a few major resistance levels before it topped $87,000 for the first time in eight months. The bears tried to intercept the move and pushed the asset south to $85,000 before another leg up resulted in a surge to $87,300.
The subsequent rejection was more profound. BTC failed at that level and slipped by several grand to $83,000 a few days later. After another rejection at a lower high at around $85,000, bitcoin dipped to $83,000 on Friday once again. However, the bulls stepped up at this point and didn’t allow another leg down.
Instead, BTC rebounded to $84,000 and remained there on Saturday despite Trump’s rejection of Iran’s ceasefire proposal. Moreover, the cryptocurrency has increased slightly and now sits inches below $85,000.
Its market capitalization has jumped to $1.7 trillion on CMC, while its dominance over the alts remains at 58.6%.
QNT Sees Big, Big Gains
QNT is today’s top gainer from the largest 100 alts, posting a 75% surge at one point to over $190 before it was stopped and driven to $160. The most probable reason behind this spectacular increase was announced a few days ago, when The Clearing House selected Quant to power its On-Chain Money Initiative.
Double-digit gains are also evident from the likes of BTW, WLD, GRAM, and GRAY. ZEC has soared by over 8% daily and now sits above $1,650. NEAR has reclaimed the $5 level after a 5.4% daily jump. SOL is close to $125 following a 3% increase. ETH, BNB, LINK, and HYPE are also slightly in the green, while XRP, DOGE, and TRX have posted minor losses.
The total crypto market cap has increased slightly to $2.910 trillion now on CMC.
