Bitcoin continues to struggle to maintain the $30,000 level and dipped below it a few hours ago. Most altcoins are slightly in the red today. XTZ is among the few exceptions following a major announcement from the company behind the largest stablecoin – Tether.
This week started with a wild ride that firstly took bitcoin from below $30,000 to a multi-day high of just under $32,000. The bears reminded of their presence hours later and pushed BTC south again to $29,200.
However, the volatility was not over as the asset spiked above $31,000 once again. Nevertheless, it failed there and retraced to a familiar ground of around $30,000.
In the past 24 hours, bitcoin even slipped below that level to $29,500 (on Bitstamp). Now, though, the cryptocurrency stands at $30,000, but its market cap is down to $570 billion, while the dominance is at 46.4%.
BTCUSD. Source: TradingView
The prominent BTC proponent – Jack Dorsey – and the legendary hip hop artist – Jay-Z – partnered once again to launch a bitcoin educational program for residents of Marcy Houses in Brooklyn, New York.
Despite the price struggles, bitcoin’s network continues to become more and more robust. This is evident from the growing hash rate, which registered a new all-time high.
The host of CNBC’s Mad Money – Jim Cramer – gave his reasons why he believes BTC and ETH are the right investment bets.
The landscape among most alternative coins is rather negative, with Cardano leading the race (-4% on the day). ADA was the most significant gainer from the larger-cap alts lately but has declined to $0.62 as of now.
Ethereum has slipped below $1,800 following a minor retracement. Dogecoin, TRX, Avalanche, and Shiba Inu are also slightly in the red, while BNB, XRP, and DOT are with small increases.
Solana has jumped the most from the top 10 cryptocurrencies and has reclaimed $40.
Upon news that Tether will launch on Tezos, XTZ jumped from $2 to almost $2.4, which became a monthly high. The asset has retraced slightly now, but it’s still in the green on a daily scale.
The crypto market cap has remained sluggish and is just above $1.2 trillion.
Cryptocurrency Market Overview. Source: Quantify Crypto
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