Bitcoin Defies Gravity at $119K as Altcoins Steal the Spotlight – Aug 13 Market Update

Crypto markets flex bullish momentum as Bitcoin digs in above six figures. Meanwhile, altcoins stage a coup—because when BTC stabilizes, the alts party.

The Big Hold

No sweaty palms for Bitcoin holders as the OG crypto locks in at $119K. Traders whisper 'new floor' while institutional money keeps stacking—proving even Wall Street occasionally gets FOMO.

Altseason Activated

Ethereum leads the charge with DeFi tokens and memecoins in tow. Retail’s back, leverage is up, and everyone’s pretending they ‘always believed’ in this rally. Classic.

The Fine Print

Regulators still hate this, TA purists are drawing ‘warning’ trendlines, and your uncle just asked how to mortgage his house for Shiba 3.0. Proceed accordingly.

Bitcoin Holds Strong on $119k Level

Bitcoin for instance, is currently trading for $119,749 despite a minor 0.36% drop from the previous day. The token is holding strong as it surged from $118k during the london session after consolidating throughout the asian session closing hours. This often suggests that the market is looking for liquidity.

However, trading activity is down today with 16% drop over the last 24 hours, resulting in $72.59 billion in volume with $2.38 trillion in its market cap.

LINK Leads Top Gainers 

Chainlink (LINK) is leading the altcoin market with a 8.71% surge in 24 hours. The token started that day from an intraday low of $21.5 but spiked up during the new york opening train hours. 

Currently, LINK is trading for $23.73, thanks to a 26% increase in trading activity from investors which lead to about $1.72 billion in volume in just 24 hours. Its market valuation is sitting at $16.09 billion. 

Ethereum, the second largest crypto currency is not left out in the fun. The token is up by a modest 3% from the previous day. Currently, ETH is trading for $4,444 with 14% surge in trading activity today from investors, according to data from CoinMarketCap.

At the time of writing this report, the trading volume is sitting at$49.23 billion with $536.59 billion in market capitalization.

Trending Cryptos Today 

• CreatorBid (BID)
• Cyber (CRYBER)
• Fartcoin (FARTCOIN)
• World3 (WAI)
• Open Campus (EDU)
• Lagrange (LA)

Top Gainers & Losers 

Crypto Market Overview

Due to the surge in prices, the overall crypto space is up by 2.94% and currently holds at $4.01 trillion even as trading activity dropped by 2% in the past hours. The market brought in about $193 billion in trading volume today, according to CoinMarketCap.

Meanwhile, about 127,627 traders have been taken out of their positions in the last 24 hours. According to Coinglass, a total of $407.45 million has been liquidated so far. $252 million from the total came from long positions while $154.69 came from short positions.

Also Read: ethereum Nears $4,811 as ETF Inflows Surge and Inflation Cools