BBIG - Bitcoin flirts with $50K level after bouncing off $41K just last week
Bitcoin (BTC-USD +1.4%), the world's largest digital token by market cap, is grinding higher to $50K, a level of resistance that has been tested four times throughout August and September. Just a week ago, BTC marked a low at the $40K-41K support range. Still, the second largest crypto, ethereum (ETH-USD -0.8%) continues to outperform BTC Y/Y; ether also climbs 17.1% in the past five days; BTC gains 14.4%. The bullish price action in the crypto universe coincides with U.S. equities continue to slump as investors worry about energy, supply chain issues, and higher inflation. Some other crypto-related names that are trading deep in the red on Monday includes: First Bitcoin Capital (OTC:BITCF) (-25.7%), Vinco Ventures (NASDAQ:BBIG) (-4.1%), MGT Capital Investment (OTCQB:MGTI) (-7.6%), Bit Digital (NASDAQ:BTBT) (-6.0%), The9 Limited (NASDAQ:NCTY) (-6.9%) and ISW Holdings (OTCPK:ISWH) (-28.6%). Earlier, Bitcoin and Ether inch higher after robust start to Q4.
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Bitcoin flirts with $50K level after bouncing off $41K just last week