After registering yet another multi-week low at $29,500 yesterday, bitcoin bounced off and tapped $30,000 earlier today.
Most altcoins are with insignificant gains, aside from ADA, XRP, BCH, and XLM, all of which are up by somewhere between 2% and 8%.
BTC Back at $30K
Ever since last week’s massive gains, propelled by Ripple’s court win over the SEC, which took bitcoin to a 13-month high at $31,800, the landscape around the primary cryptocurrency has been rather shaky.
The asset couldn’t keep its momentum going and retraced by almost two grand in the following days to $30,000. It managed to stand above that line during the weekend and on Monday but headed straight south on Tuesday.
This resulted in charting an 18-day low of $29,500 (on Bitstamp) yesterday. The bulls intercepted the move and pushed it to the coveted $30,000 line as of now.
The asset’s market capitalization has taken a slightly hit in the past few days and is just above $580 billion. Its dominance over the alternative coins is down as well, to 48.4%.
BTCUSD. Source: TradingView## XRP Heading for $0.8
As expected, XRP experienced the most significant price surge last week following Judge Analisa Torres’ decision to rule in favor of the blockchain company. The native token almost doubled in price in a day and reached $0.95 to mark a 19-month peak.
However, it retraced heavily in the next few days. The past 24 hours have been more positive as XRP is back on the offensive and sits close to $0.8 after a notable investment from Ripple in a company operating in the growing fields of AI and metaverse.
Cardano is up by 2.5% and trades above $0.3, while ETH, BNB, SOL, DOGE, and LTC are with more modest gains. Bitcoin Cash has added 4% of value and sits at $245.
Stellar has jumped the most from the larger-cap alts (8%) and stands close to $0.15.
In total, the crypto market cap has added a few billion in a day and remains above $1.210 trillion on CMC.
Cryptocurrency Market Overview. Source: Quantify Crypto
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
