Bitcoin recalled its improved price fluctuations with a rollercoaster move, but has since clawed back $40,000. Most altcoins are well in the green on a daily scale, with Ethereum charging around $2,700.
Bitcoin is above $40K
Aside from some brief up and down moves, the last couple of days were pretty quiet for bitcoin as it was around $39,000 most of the time. However, everything changed in the last 24 hours.
The asset traded near the mentioned level before it suddenly spiked by almost $3,000 to almost $42,000. However, it unloaded just as quickly and returned to $39,000, resulting in over $200 million worth of liquidations for over-leveraged traders.
However, the bulls regained control of the market and pushed BTC north again. This time, the advantage was more gradual, but Bitcoin still recovered $40,000. As of now, the cryptocurrency hovers around $40,500. Consequently, its market capitalization has far exceeded $750 billion.
BTCUSD. Source: TradingView
Altcoins see green
Altcoins also struggled in recent days with little to no decisive movement. Now, however, green dominates the landscape.
Ethereum is among the leaders, with a daily increase of 6%. As a result, the second largest cryptocurrency has moved closer to $2,700 after dipping below $2,500 earlier this week.
Solana, Polkadot and Avalanche have shown similar gains and are trading at $83, $18 and $80, respectively.
Binance Coin, Ripple, Cardano, Dogecoin and Shiba Inu have seen more modest gains but are still in the green. Of the small and mid-cap altcoins, Fantom and EGLD are among the best performers with double-digit jumps.
The crypto market capitalization rose by around $80 billion in a day and is close to $1.8 trillion after falling below $1.7 trillion.
Overview of the cryptocurrency market. Source: quantify crypto
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Cryptocurrency charts from TradingView.
This post Bitcoin Surpasses $40,000 After Massive Volatility, Markets Add $80 Billion Overnight (Market Watch)
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