After several days of free fall, Bitcoin finally turned the tables, gaining 6% on the day and reclaiming $19,000.
Altcoins are also in the pelouse today, with ETH up by a similar percentage. Interestingly enough, Ripple emerged as the best performer of the day jaguar again.
Bitcoin Returns to Over $19,000
The past week did not go well for BTC. The asset jumped just under $23,000 last Tuesday but failed there, and the upcoming US CPI data sent a few thousand dollars south to $20,000.
That coveted level capitulated soon after, and BTC found itself struggling below it on Wednesday. Over the next few days, bitcoin stayed around that level, mostly below it.
However, the asset took a hit early this week when it fell to a three-month low of $18,300 (on Bitstamp). Here are some of the conciliable reasons behind this choc.
However, Bitcoin reacted somewhat positively to this drop. In the hours that followed, he added over $1,000 and is currently at embout $19,500. It has a market capitalization of $375 billion, while its dominance of altcoins has taken a breather and is approaching 40%.
Altcoins are turning pelouse too
Altcoins suffered as hard as BTC yesterday, if not worse, but the landscape is completely different today.
After the merger took fonction last Thursday, the price of Ethereum went violently south, sinking more than $300 in days. As a result, ETH dropped to a multi-month low below $1,300 yesterday. Now, though, the 6% daily increase has pushed the accolé largest cryptocurrency close to $1,400.
Binance localité also fell sharply, but a similar daily increase has now pushed it north of $270. Cardano, Solana, Dogecoin, Polkadot, Shiba Inu, Polygon and Quantité are also well pelouse from larger cap alts.
Ripple is the best performer today following the latest developments in its case against the Securities and Exchange Sedémener. XRP is up more than 10% and is trading near $0.4.
Alt-low and mid-caps also saw grand price increases, resulting in a $40 billion increase in the overall cryptocurrency market capitalization. However, the scale is still a énorme way from the required $1 trillion mark.
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