Bitcoin Recovers $3K in a Day: Shiba Inu Up 11% (Market Watch)

Following a few days of consecutive price drops, bitcoin finally bounced off and added more than $3,000 of value in a day. Most altcoins have also reacted well, with Ethereum challenging $4,000 and Shiba Inu spiking more than 10%.

Bitcoin Eyes $49K

The past several days didn’t go well for the primary cryptocurrency. Ever since the Friday push toward $50,000, the asset struggled and even dumped below $46,000 on several occasions.

The latest such example came yesterday, as reported when bitcoin fell to $45,500. At this point, though, the landscape changed, and the bulls stepped up.

In the following hours, they pushed the cryptocurrency north, and BTC added more than $3,000 of value. As a result, bitcoin neared $49,000 for the first time in five days.

Despite getting rejected at that level, for now, BTC still stands around $48,500 and is up by 5% in a day. Moreover, bitcoin’s market capitalization has reclaimed the $900 billion mark.

BTCUSD. Source: TradingView

ETH at $4K: SHIB Spikes 10%

The altcoins also suffered in the past few days but are all well in the green today. Ethereum traded below $3,800 yesterday, but a 6% increase on a daily basis has driven the second-largest crypto to $4,000.

Binance Coin (4%), Solana (3.5%), Ripple (3.5%), Cardano (4%), Polkadot (3%), and Dogecoin (4.5%) have also charted impressive gains.

However, Terra (10%), Avalanche (15%), Shiba Inu (11%), and Polygon (11%) have produced more significant increases in a day. Consequently, LUNA stands above $80, AVAX is close to $120, SHIB is at $0.000032, and MATIC trades at $2.3.

More gains come from Harmony (16%), Helium (16%), THORChain (16%), Holo (14%), Kadena (11%), IoTeX (10%), Basic Attention Token (10%), and others.

The cryptocurrency market capitalization is up by more than $100 billion in a day to $2.250 trillion.

Cryptocurrency Market Overview. Source: Quantify Crypto