Bitcoin saw a 16.5% correction between August 16 and August 19 after failing to test the $25,000 resistance.
Bitcoin (BTC) held steady at the $20,800 support and is once again above the $21k mark, with a minor 0.2% decline since yesterday. Ethereum’s (ETH) prospects seem to be improving with the altking again above $1.6k, posting a gain of 1.5% from the previous day. The overall crypto market sentiment remains bearish as altcoins registered a minor relief or continue to remain in the red. The total market cap stands firm at $1.02T.
Experts predict that the continued inflationary pressure might keep investors away from the crypto market. However, the $1 billion options expiry scheduled for August 26 could improve Bitcoin’s prospects despite the recent losses.