Market Watch: Bitcoin Price Spiked to 3-Week High

Bitcoin kept climbing in the past 24 hours and tapped $45,000 to mark its highest price line in roughly three weeks. Most altcoins have calmed now, excluding Terra and Solana. Both are up by more than 6% and stand at $95 and over $100, respectively.

Bitcoin Touched $45K

The volatile roller-coaster in the crypto market continued in the past 24 hours, led by bitcoin’s movements. The asset had dumped to just over $34,000 last week when Russia launched its special military operation against Ukraine.

However, as the Western leaders refused to get directly involved in the war, BTC began its rapid recovery. In a matter of hours, the cryptocurrency regained all lost value and even took a swing at $40,000 but to no avail at first.

Yet, it overcame that coveted level the following day and kept climbing to $44,000 as reported. Moreover, it even touched $45,000 yesterday, which became its highest price line since February 10th.

As of now, bitcoin has lost some ground and stands around $44,000. Nevertheless, its market capitalization remains well above $800 billion.

BTCUSD. Source: TradingView

Altcoins Stall: LUNA and SOL Soar

The altcoins also went on a wild rate lately following the war, but most have calmed on a 24-hour scale. Ethereum is among the best performers as it went from $2,200 to $3,000 in less than a week. The second-largest crypto is still located near that level despite not being able to reclaim it yet.

Binance Coin, Ripple, Cardano, and Polkadot are slightly in the red, while Dogecoin, Shiba Inu, CRO, and MATIC have marked minor gains.

Terra and Solana have gained the most since yesterday. LUNA is up by 6% and sits close to $95, while SOL soared by 7.5% and trades above $100.

There’re two double-digit gainers from the top 100 coins – THORChain (30%) and Anchor Protocol (12%).

The crypto market cap neared $2 trillion yesterday but stands shy of that level now.

Cryptocurrency Market Overview. Source: Quantify Crypto