ZEC Unfazed by Market Crash with New Wave, BTC Calms Below $112,000: Weekend Watch

IP is the other big winner today.

After the massive meltdown on Friday evening and Saturday morning, Bitcoin is expected to have calmed down around $112,000.

Most altcoins have shown similar behavior over the past day, but there are even some winners from the larger caps, such as BNB.

BTC calms down at $112K

The business week started on an impressive note for the BTC bulls as the cryptocurrency shot to two consecutive record highs last Sunday and Monday. The last record was just over $126,000. What followed was a small correction and a sideways trade around $122,000.

That level was maintained until Friday evening when US President Donald Trump threatened and then officially announced a new set of tariffs against China. In just a few hours, the price of Bitcoin fell from $122,000 to $101,000 on some exchanges.

This caused a cascade of liquidations, which became the largest day of destroyed positions worth more than $19 billion, according to CoinGlass. BTC recovered as most short positions were closed, briefly crossing $114,000, which only intensified the liquidations.

It has failed there for now and is close to $112,000 at the time of writing. The market cap has fallen to less than $2.230 trillion on CG, but the dominance on the alts is over 58%.

ZEC braves the crash

Zcash performed impressively before the market-wide crash, rising triple digits within about a week. Although it fell from $250 to $160 during the meltdown, it has not only recovered all the losses but even posted some gains and is now close to $300, after another 11% increase since yesterday. IP is the other big winner from the top 100 alts.

Binance Coin is up over 7% since yesterday and is now trading above $1,150. Ethereum is at $3,800 after a 3% rise, while XMR is up 7% to $308. Most other larger capitalized alts are pretty slow now.