Bitcoin price is finding soft support at $35,000 after dropping 7.4% in the later hours of Jan. 19.
The correction was primarily the result of an overheated derivatives market and uncertainty over whether BTC can recapture the $40,000 level. Data from Cointelegraph Markets and TradingView shows that the price of Bitcoin fell as low as $32,400 before recovering to the $32,500 level.
Ether has outperformed Bitcoin so far in January, as Cointelegraph previously reported. As Bitcoin started to consolidate with low volume, the demand for higher-risk plays rose. The altcoin market saw a massive rally when BTC began to consolidate and range between $40,000 and $36,000. Traders rushed to altcoins that have much lower liquidity and volume compared with BTC.
But when Bitcoin began to see its first real short-term sentiment shift, altcoins saw an intense pullback against both Bitcoin and the U.S. dollar.The strong drop of Ether was unexpected because of its strong momentum in the past 72 hours. ETH was consistently outperforming BTC on the ETH/BTC pair, demonstrating strength against the rest of the cryptocurrency market and breaking its all-time high.
A crypto art piece by Justin Roiland, co-creator of the famous animated series Rick and Morty, has sold for a handsome price on non-fungible token marketplace Nifty Gateway.
Dubbed “The First Ever Edition Of Rick And Morty Cryptoart,” the tokenized artwork was sold at silent auction for $150,000. Nifty Gateway announced the news on Twitter on Jan. 19.
The number of Bitcoin nodes is at an all-time high, with 11,558 reachable nodes currently active, according to Bitnodes.io. Another Bitcoin network statistics tracker, coin.dance, calculates the total number of Bitcoin nodes at 11,613, which is just above the previous high of 11,250 set one year ago this month.
The Bitcoin Core software update 0.21.0 was released for public download on Jan. 14 2021 and is currently the fourth most utilized version of the software among nodes
This Daily Dose was brought to you by Decentralize.Today