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Cryptanalysis: April 2021 Result And The Month-End Stats

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  • With an uprise of 7.59% on Friday, BTC overturned Thursday’s 2.36% loss but was still down by 1.98% from last month.
  • Overall April delivered mixed results for major altcoins.
  • Starting the end-week with a Monday low of $1,778B, the global crypto market cap attained a Friday high of $2,193B.

When looking at end-week statistics, one often looks for ‘closing with a bang!’ results. Although Bitcoin (BTC) managed some significant rise, the end-of-the-month price result wasn’t much of a ‘bang’. Rallying up by 7.59% on Friday, overturning Thursday’s 2.36% loss, BTC’s closing figure of $57,630 still fell short of 1.98% from last month.

BTC: April Month-End

Bitcoin’s April 30, 2020, started with “an early morning intraday low” of $53,068, reported FXEMPIRE. Gradually, overcoming the first “major resistance level” at $55,066 and the second at $56,567, the coin rallied to “a late intraday high” of $57,611. Still short of $58,000 levels, BTC ended the day at “sub-$57,600 levels.” 

However, to magnify this hitch into a near-term bearish trend, bitcoin would need to slide through the 62% FIB of $27,237, and that doesn’t seem very likely.

April Reports Of Major Altcoins

Friday also reported a flurry of results for altcoins. Apart from Polkadot DOT down by 5.80%, most other major cryptocurrencies had a bullish end. To be precise, Ripple’s XRP (14.39%), Litecoin LTC (+6.30%), Bitcoin Cash BCH (+5.96%), Crypto.com Coin CRO (+5.32%), Chainlink LINK (+4.65%), Binance Coin BNB (+3.89%), Cardano’s ADA (+3.68%) and slightly on the sidelines Ethereum ETH (+0.64%).

The overall month of April described mixed results for the majors. While Crypto.com’s CRO fell by 6.49%, most other altcoins surged. Leading the bullish month was Ripple’s XRP (+180.63%), followed by Binance’s BNB (+106.01%). As for the rest, Ethereum ETH (+44.61%), Litecoin LTC (+37.93%), Bitcoin Cash BCH (+36.87%), Chainlink LINK (+29.83%), Cardano’s ADA (+13.61%) and Polkadot DOT (+0.22%).

The Present Progress and Downfalls

This week started with the overall crypto market cap down to a Monday low of $1,778 billion, which, while approaching the weekend, soars at a Friday high of $2,193 billion. At the time of writing, the global crypto market cap is over $2,215 billion. 

Bitcoin’s market dominance, enjoying a Monday high of 51.73%, fell to 49.18% on Thursday. And at the time of writing, BTC is down by 1.25%, trading at $56,750.23, and dominates barely 48% of the crypto space.

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