{"id":311343,"date":"2021-07-29T20:39:20","date_gmt":"2021-07-29T17:39:20","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/altcoins-pump-while-traders-anticipate-a-lower-support-test-from-bitcoin\/"},"modified":"2021-07-29T20:39:20","modified_gmt":"2021-07-29T17:39:20","slug":"altcoins-pump-while-traders-anticipate-a-lower-support-test-from-bitcoin","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/altcoins-pump-while-traders-anticipate-a-lower-support-test-from-bitcoin\/","title":{"rendered":"# Altcoins pump while traders anticipate a lower support test from Bitcoin"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a283f0b583f7\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a283f0b583f7\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/altcoins-pump-while-traders-anticipate-a-lower-support-test-from-bitcoin\/#RUNEUSD\" >RUNE\/USD<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/altcoins-pump-while-traders-anticipate-a-lower-support-test-from-bitcoin\/#QNTUSD\" >QNT\/USD<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/altcoins-pump-while-traders-anticipate-a-lower-support-test-from-bitcoin\/#PERPUSD\" >PERP\/USD<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Altcoins pump while traders anticipate a lower support test from Bitcoin <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>Bitcoin (BTC) bulls are locked in a battle with bears in order to take control of the $40,000 level and dovish comments from U.S. Federal Reserve Chair Jerome Powell suggest that loose monetary policies will\u00a0remain in place for the foreseeable future.<\/p>\n<p><a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">General<\/a>ly, the crypto ecosystem is \u201ccautiously optimistic\u201d about further price rises as the fallout from China\u2019s miner purge begins to subside and displaced miners begin to establish mining operations in other countries, resulting in a rebound of the Bitcoin hash rate.<\/p>\n<p>Data from Cointelegraph Markets Pro and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/\">TradingView<\/a> shows that while the momentum in Bitcoin has slowed down, several altcoins have gained more than 30% on the 24-hour chart, led by THORChain (RUNE), Quant (QNT) and Perpetual Protocol (PERP). <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-07\/aa91d9ef-99d1-42c1-b820-e3eecc0c3b57.png\"><figcaption style=\"text-align: center;\"><em>Top 7 coins with the highest 24-hour price change. Source: <\/em><em>Cointelegraph Markets Pro<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"RUNEUSD\"><\/span>RUNE\/USD<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The top performer over the past 24-hours has been THORChain, a decentralized liquidity protocol that facilitates the exchange of cryptocurrencies across multiple networks while allowing the token holder to retain full custody of their assets.<\/p>\n<p>VORTECS\u2122 data from Cointelegraph Markets Pro began to detect a bullish outlook for RUNE on July 24, prior to the recent price rise. <\/p>\n<p>The VORTECS\u2122 Score, exclusive to Cointelegraph, is an algorithmic comparison of historic and current market conditions derived from a combination of data points including market sentiment, trading volume, recent price movements and <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> activity.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-07\/c3bbe25f-6493-47a4-bcde-2ea2c78de0a3.png\"><figcaption style=\"text-align: center;\"><em>VORTECS\u2122 Score (green) vs. RUNE price. Source: <\/em><em>Cointelegraph Markets Pro<\/em><\/figcaption><\/figure>\n<p>As seen in the chart above, the VORTECS\u2122 Score for RUNE first spiked to a high of 85 on July 24 and then pulled back slightly over the next two days and registered a high of 75 on July 26, around 18 hours before its price began to rally 65% over the next two days. <\/p>\n<p>RUNE price has been hammered in recent weeks after a <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/watch-movies-tv-seriess\/\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Watch Movies &amp; TV Series\" target=\"_blank\" rel=\"noopener\">series<\/a> of protocol exploits resulted in $7.6 million worth of funds being drained from the platform, but it <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ears as if the fallout from that has now subsided. <\/p>\n<h2><span class=\"ez-toc-section\" id=\"QNTUSD\"><\/span>QNT\/USD<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The second-largest gainer in the past 24-hours was Quant (QNT), a project focused on interoperability between different blockchain networks. <\/p>\n<p>According to data from Cointelegraph Markets Pro, market conditions for QNT have been favorable for some time. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-07\/f69a609c-1e19-49f6-9b5d-950e58eed988.png\"><figcaption style=\"text-align: center;\"><em>VORTECS\u2122 Score (green) vs. QNT price. Source: <\/em><em>Cointelegraph Markets Pro<\/em><\/figcaption><\/figure>\n<p>As seen on the chart above, the VORTECS\u2122 Score for QNT began to pick up on July 25 and reached a high of 81, around 24 hours before the price increased 75% over the next two days.<\/p>\n<p>The <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a>Quake\u2122 alert system caught the announcement from Binance that it would be listing QNT just before its price began to significantly rise from $96 to an intraday high at $144.75. <\/p>\n<p><strong><em>Related<\/em><\/strong><em>: <\/em><em>Crypto population doubled to over 200M users since January, report says<\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"PERPUSD\"><\/span>PERP\/USD<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Perpetual Protocol, a decentralized perpetual contracts protocol that includes an on-chain DEX and up to10x leverage, also broke out today.<\/p>\n<p>VORTECS\u2122 data from Cointelegraph Markets Pro began to detect a bullish outlook for PERP on July 25, prior to the recent price rise. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-07\/67a0cb0c-d8b5-4b65-9515-5756cb5dc238.png\"><figcaption style=\"text-align: center;\"><em>VORTECS\u2122 Score (green) vs. PERP price. Source: <\/em><em>Cointelegraph Markets Pro<\/em><\/figcaption><\/figure>\n<p>As seen in the chart above, the VORTECS\u2122 Score for PERP climbed into the green on Jly 25 and reached a high of 79 early on July 26, around 24 hours before the price increased by 52% over the next two days. <\/p>\n<p>The building momentum behind PERP comes following the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/perpprotocol\/status\/1410221752526028801\">release<\/a> of Curie, a second version of the Perpetual Protocol. <\/p>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/altcoins-pump-while-traders-anticipate-a-lower-support-test-from-bitcoin\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Altcoins pump while traders anticipate a lower support test from Bitcoin &#8221; Bitcoin (BTC) bulls are locked in a battle with bears in order to take control of the $40,000 level and dovish comments from U.S. Federal Reserve Chair Jerome Powell suggest that loose monetary policies will\u00a0remain in place for the foreseeable future. Generally,&#8230;<\/p>\n","protected":false},"author":1,"featured_media":311344,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDcvZDY2ZGRiZTEtOTNlYS00YjA1LWJjNTYtZjZmN2FmMjFhYzU5LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,88119,74862,74863,74868,75012,110482,73785],"class_list":["post-311343","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-altcoin-watch","tag-bitcoin","tag-cryptocurrencies","tag-defi","tag-derivatives","tag-quant-network","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/311343","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=311343"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/311343\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/311344"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=311343"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=311343"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=311343"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}