Bitcoin Defends $20K As Ethereum Name Service (ENS) Rises 11% Daily: Market Watch

Over the past 24 hours, Bitcoin’s price has consolidated above $20,000 while fending off an attempt by the bears to push it back below the sought-after level.

At the same time, the altcoin scene is also relatively quiet, with XRP pushing towards $0.5 and being the top performer among the top altcoins by total market cap.

BTC defends $20K and consolidates above

At the time of writing, BTC’s price is trading at around $20,200, up around 0.6% in the last 24 hours. What is important to note is the subsequent daily close above the important $20K level.

Also, the bears tried to push the price below it, bringing it as low as $19,730 (on Binance), but the bulls were determined to defend and prevented further falls, as seen in the chart below.

It is very important for the cryptocurrency to maintain its price above $20,000 if there would be any chances of a push higher.

Altcoins Calm, ENS Explodes 11

The broader cryptocurrency market was also relatively calm over the past 24 hours. The majority of altcoins are consolidating, with a few exceptions.

XRP continues to perform very strongly, up another 3% in the last 24 hours and pushing for $0.50. This is a major hurdle for the cryptocurrency, and if it succeeds in surpassing it, this could open the way to higher levels.

At the same time, the Ethereum Name Services token – ENS – rose by around 11% today. This also makes it one of the best performers, followed by EVMOS. Interestingly, yesterday EVMOS was the worst performing cryptocurrency. This is further supported by the fact that despite the 11% increase, it is still down 10% on the week.

Regardless, sentiment in the broader cryptocurrency market remains dire, albeit slightly improved compared to yesterday and last week.