After another price dip below $60,000, bitcoin went on the offensive again and surged to $62,000. Some altcoins, such as Polkadot, Solana, and Shiba Inu, have also charted impressive 24-hour gains, and SOL has even neared its ATH.
The past few days didn’t go all that well for the primary cryptocurrency, even though it managed to recover from Thursday’s sudden crash to $58,500 almost immediately.
It jumped above $62,000 at the time and even tried its hand at $63,000 a day later but to no avail. The bulls intercepted the move and pushed it south, which resulted in a drop to $60,000 on Sunday.
Bitcoin even dropped below that coveted line to an intraday low of $59,500 hours ago. However, the bulls stepped up at this moment and drove the cryptocurrency up. BTC added nearly $3,000 of value and touched $62,500 before retracing slightly to its current level of around $62,000.
Bitcoin’s market capitalization has returned above $1.150 trillion, while the dominance over the altcoins stands still at 44%.
BTCUSD. Source: TradingView
Most of the altcoin space is also in the green today. Ethereum dropped to $4,200 yesterday, but a modest increase on a 24-hour scale has driven it back above $4,300.
Binance Coin is 2% up on the day and trades north of $530. A near 3% pump from Cardano has driven ADA to $2. More gains come from Dogecoin (5%), Terra (2.5%), Avalanche (3%), Chainlink (3.5%), and Litecoin (3%).
Polkadot has spiked by 6% and now stands above $44. Solana and Shiba Inu are the most significant gainers from the larger-cap alts. SOL has surged by nearly 12% to $210, which is close to the token’s ATH.
SHIB is up by a similar percentage and trades above $0.000073. As such, SHIB has reaffirmed its position above Dogecoin as the largest meme coin.
More fluctuations are evident from Qtum (36%), THORChain (24%), Holo (21%), Dogelon Mars (18%), XDC Network (16%), OMG Network (11%), The Graph (11%), and Huobi Token (10%).
The cryptocurrency market capitalization is up by approximately $50 billion in a day to $2.650 trillion.
Cryptocurrency Market Overview. Source: Quantify Crypto
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