Markets Update: Leading Cryptocurrencies Briefly Break Local Resistance

The cryptocurrency markets have seen significant volatility over the last 24 hours, with BTC rallying by 7% to test resistance at $4,200, before violently crashing approximately 10% back below $3,800. BCH has posted comparable volatility, currently trading for $135 after rallying above $150 for the first time since Jan. 10 earlier today.

Also Read: German Derivatives Exchange Rumored to Be Launching Crypto Futures

BTC Fails to Establish Support at $4,000

BTC briefly rallied above $4,000 today after gaining more than 4% in one hour. The rally saw BTC test $4,200 for the first time since Dec. 2018, before crashing 9% in less than 60 minutes as bulls failed to establish support at $4,000. Bitcoin core is currently trading for roughly $3,800.

BTC currently has a market cap of $67.32 million and a dominance of…