Bitcoin and altcoins have held their immediate support levels, suggesting the start of a relief rally in the short term.
While price volatility remained a key factor, major DeFi tokens registered double digit loss over the past week as the DeFi TVL hovers near $50 billion mark.
Traders expect Bitcoin to swoop below its swing low before the price flattens out and altcoins begin to recover.
Bitcoin and altcoins gave up the gains of last week’s relief rally and today’s dip below $20,000 suggests bears are intent on pushing the market back to its yearly lows.
Gavin Wood said that he seeks to transform the Polkadot blockchain into a full technocracy.
Bitcoin and altcoins are facing profit-booking after the recent relief rally, but charts suggest that a revisit to recent swing lows could be in store.