BTC Tests $31K as Bitcoin Cash Soars 30%: Market Watch

The past 24 hours saw Bitcoin’s price attempt a shot at $31K and maintain its dominance over the rest of the market.

It’s worth noting that some altcoins performed incredibly well, charting gains close to 30%. Let’s dive in.

Bitcoin Price Taps $31K

As CryptoPotato reported yesterday, Bitcoin’s price soared to $31K, sparking a wave of liquidations totaling upward of $100 million.

Source: TradingView

It’s worth noting that Bitcoin’s dominance – the metric which tracks its share relative to that of the rest of the market – is also up. This signifies that the primary cryptocurrency has been performing a lot better compared to altcoins.

Unfortunately for the bulls, they were unable to sustain the price above $31K. Sellers stepped in and pushed it below this level to where it currently trades at around $31,600.

Bitcoin Cash (BCH) Leads Altcoins Push

Bitcoin Cash (BCH) is today’s best performer by a long shot. The cryptocurrency is up 30% in the past 24 hours alone, adding to its total gains of more than 70% for the week.

A close second is Bitcoin SV (BSV), which is up over 21% during the day and over 44% during the week. Ethereum Classic (ETC) is right behind them with 11.4% daily gains.

Source: Quantify Crypto

As seen in the heatmap, most of the market is trading well in the green. Litecoin (LTC) increased by a total of 5.4%, followed by Polkadot (DOT), and Solana (SOL).

Maker (MKR) is today’s worst performer, down about 4.6%. SUI, Optimism (OP), Conflux (CFX), and Injective (INJ), are also down by about 3% each.

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