Market Outlook – AXS and LINK Gain 10%; Bitcoin Keeps $38K

Bitcoin remains somewhat calm near the $38K mark. Axie Infinity and Chainlink have witnessed remarkable upswings since yesterday.

Bitcoin price attempted to overpower $39,000 but failed and plunged towards its current levels near $38,000. Most alts see slight fluctuations today. Ethereum hovers at $2,600 as Axie Infinity and Chainlink led top performers in large-cap cryptos.

Bitcoin Steadies at $38,000

The primary crypto plunged two times to $35.5K some few days ago. That came after the token failed to conquer the hurdle of around $36,000. Nevertheless, bullish resurgence had Bitcoin moving north. Bitcoin regained the mentioned zone before going offensive once more after a brief correction.

The crypto continued to surge in the upcoming hours. That way, Bitcoin rose to its daily peak near $39,000. Nevertheless, BTC failed to overpower the zone and declined by multiple dollars. However, it maintained its market cap beyond $700 billion. That is after falling beneath the mark early this week.

AXS and LINK Lead Gainers

Most alternative coins recorded remarkable surges yesterday before calming today. Ethereum extends its recoveries after the leading alt plunged to $2,000 early on the week. While publishing this content, ETH enjoys another slight daily upsurge beyond $2,600.

Terra and Binance Coin are among the alts that saw slight retracements over the past 24hrs. Meanwhile, Ripple, Polkadot, Cardano, Avalanche, Shiba Inu, and Dogecoin saw minor upsurges. Nevertheless, the most substantial gains in the large-cap asset space came from the likes of Axie Infinity and Chainlink, gaining approximately 10% each on the day.

However, mid-and lower-cap tokens presented more upswings. Flow led the flock with its 20%. Others with impressive gains are Arweave (15%), Tezos (10%), Convex Finance (13%), Pocket Network (9%), and Synthetix Network (9%). The crypto market capitalization remained somewhat still, standing beyond $1.7 trillion.

Few experts trust Bitcoin will keep the bullish move despite remarkable performance. A crypto specialist Michael van de Poppe tweeted about BTC’s actions. He believes the failure to keep the $37K level might lead to lower levels forming a daily bullish divergence. Meanwhile, holding the level will break past the resistance at $38.5K.