Optimism Soars Above $3: Coinbase News Sends BTC Choppy at $24K

• The Coinbase-Optimism news has pushed the price of Optimism (OP) above $3.
• Bitcoin is trading choppily at around $24,000, unable to break through this level.
• Most altcoins are posting small losses today, with notable losses from Avalanche, VeChain, MATIC and Polkadot.

Coinbase-Optimism News Boosts Optimism Price

The recent news regarding Coinbase and Optimism have seen the price of OP soar past $3. This makes it one of the best performing cryptocurrencies on the day.

Bitcoin Struggles at $24K Level

Bitcoin is still struggling to break through an important milestone at around $24,000. After surging from $21,500 to above $25,000 in a single day last week and then retracing by over $1,500 in hours, BTC failed two more attempts to go past the $25K mark before dipping to around $23,500 once again. It eventually managed to recover back up to above the $24K line yesterday but then started trending downwards again due to some concerning news regarding certain accounts on Binance’s Australian branch.

Altcoin Performance

Most altcoins are also slightly in the red today with losses mainly attributed to Avalanche (-7%), VeChain (-5%), MATIC (-4%) and Polkadot (-3%).

Market Outlook

It remains unclear how bitcoin will perform in the near future as its indecisive price movement continues. However other cryptos such as OP have shown promising gains which could indicate an overall bullish trend for digital assets in general over the next few days or weeks.

Conclusion

Despite some short-term volatility across most major cryptocurrencies today, optimism amongst traders appear strong as evidenced by OP’s sharp rise post Coinbase-Optimism announcement coupled with bitcoin’s resilience at the key resistance level of around 24k USD.