Bitcoin fell to $30,000 but managed to bounce off that level and is now a few hundred dollars above as well.
Most altcoins are also slightly in the red today, with ADA, SOL, MATIC, and DOT dropping more than the larger caps.
BTC Defends $30K
The main cryptocurrency saw increased volatility at the end of the business week, along with the rest of the market, following Ripple’s historic victory against the SEC. Following the judge’s ruling that almost all XRP sales are not securities transactions, BTC jumped from under $30,500 to a new 13-month high of over $31,800.
However, it was unable to sustain this momentum and pulled back by several hundred dollars on Friday. Then came a more violent rejection that pushed it south to just under $30,000 for the third time that week.
The bulls stepped up once again and helped BTC regain that round milestone by Saturday. The weekend, as usual, is significantly less eventful, but Bitcoin still fell to $30,050 (on Bitstamp) earlier today.
However, it managed to hold that level and is now around $300 above. Its market capitalization and dominance have remained the same as yesterday at $590 billion and 48.5%, respectively.
BTCUSD. Source: TradingView
ADA leads the way down
Unsurprisingly, most altcoins also skyrocketed after the SEC-Ripple decision, especially XRP. It nearly doubled in value within hours and shot up to a 19-month high at $0.95. However, it failed there as well, pulling back a bit in the following days to its current level of just over $0.7.
ETH shot up above $2,000 but is now also sitting at $1,930 after a two-day drop. BNB is back below $250.
The last 24 hours brought more pain to ADA, which decreased by more than 4%, SOL (-4%), DOGE (-2%), MATIC (-3%), and DOT (-3%).
Lido DAO’s native token is the most dumped, over 6.5%. As a result, LDO now sits below $2.3.
Total crypto market capitalization has been relatively stable at around $1.210 trillion on CMC.
Overview of the cryptocurrency market. Source: quantify crypto
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TradingView cryptocurrency charts.
This post Bitcoin (BTC) Defends $30K, Cardano (ADA) Drops 4% Daily
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