After a sudden massive crash to $ 56,000, bitcoin rebounded and recovered $ 60,000. Most altcoins have marked fresh gains as well, with Ethereum finally painting a new all-time high at $4,400.
The wild 24 hours of BTC
Since the all-time high last week when BTC hit $ 67,000, the price of the cryptocurrency has steadily declined. This resulted in several dips below $60,000 before the bulls attempted another leg up. However, this was stopped at $ 64,000 and bitcoin started to lose value again.
As reported yesterday, the asset struggled below $60,000 when a rapid price pump drove north with several thousand dollars. When all seemed to be going well, however, the situation changed drastically.
In a matter of minutes, bitcoin slumped below $56,500, which became the lowest price level since October 13th. Interestingly, BTC recovered just as quickly and made $ 60,000 back. As of now, the cryptocurrency stands just shy of $61,000, and its market capitalization is at $1.150 trillion.
ETH’s new ATH
The most important news from the altcoin space is Ethereum’s new all-time high. Just yesterday, the second-largest crypto briefly dumped below $3,900. However, the tides quickly changed, its value started to rise rapidly, and earlier in the day it hit $ 4,400 (on Bitstamp), breaking its previous May record.
Binance Coin is also well up for the day. A 4% increase has driven BNB to nearly $500. More minor gains come from Solana, Polkadot, Terra, Chainlink, and Avalanche.
In contrast, Cardano and Ripple have marked slight decreases. Dogecoin, which yesterday recovered its position as Shiba Inu’s 9th largest cryptocurrency yesterday, has lost 6% now and is below $ 0.3.
Polygon has also seen an impressive price pump of 7.5%, and MATIC now trades above $2.
More wins come from Decentraland (44%), Basic Attention Token (17%), Enjin Coin (15%), Helium (15%), Revain (14%), Axie Infinity (12%), THETA (12%) , ICNE (12%) and Secret (10%).
The cryptocurrency market cap is up by $60 billion since yesterday and is now at $2.6 trillion.
