Bitcoin briefly dipped below $28,000 yesterday but has bounced off and currently sits inches above that line.
As it happens quite frequently during the weekends, the trading volumes have declined, and even the more volatile by nature altcoins sit rather silent today.
BTC Back Above $28K
The start of this week saw some massive price fluctuations. It began with BTC’s price drop to $27,200 on Monday after fake news that Interpol had served Binance CEO CZ with a Red Notice. However, the asset recovered all losses immediately after Zhao refuted the claims.
Moreover, the bulls drove the cryptocurrency even further north, culminating in nearing $29,000. Bitcoin failed at that point, and the subsequent rejection drove it back down to $28,000 by Wednesday. The next few days were rather quiet as BTC stood around $28,000.
It dipped below that line yesterday, going to a daily low of $27,800. However, it has added almost $400 since then and currently trades above $28,000.
Its market capitalization has reclaimed the $540 billion level, while its dominance over the altcoins has regained some of the recently lost ground and is close to 46%.BTCUSD. Source: TradingView
ADA Eyes $0.4
The alternative coins also went through similar volatility at the start of the week, but the past few days were a lot less eventful. Ethereum skyrocketed to over $1,950 at one point, charting its highest price tag in almost eight months. However, ETH has lost some steam and currently sits at just under $1,900.
Cardano has risen the most from the top 10 altcoins. ADA is up by nearly 3% and has come inches away from $0.4. BNB, XRP, DOGE, MATIC, SOL, DOT, LTC, SHIB, and TRX are also in the green, albeit in a more modest fashion.
Filecoin and ICP are the other notable gainers from the top 50 alts. Overall, though, most altcoins have remained calm, which is evident from the total crypto market cap.
The metric has remained at essentially the same spot as yesterday – $1.185T on CoinMarketCap.Cryptocurrency Market Overview. Source: Quantify Crypto