Bitcoin tried another head start in the past 24 hours, but was stopped at $ 52,000 and climbed back to just over $ 50,000. Most altcoins have also stalled since yesterday’s increases, with a few exceptions like Tezos, which jumped almost 30% in one day.
Bitcoin Failed at $52K
CryptoPotato reported on Saturday the massive crash that drove bitcoin from $58,000 to a two-month low of $42,000, resulting in over $2.5 billion in liquidations from 400,000 over-leveraged traders.
Assets started to recover on Sunday, but came to a halt near $ 50,000. However, he managed to break through that level yesterday.
Moreover, BTC kept climbing in the following hours and even touched $52,000. This is where the bears stepped up once more and pushed it south again. As a result, bitcoin now stands at just over $50,000, and its market capitalization is down to $950 billion.
Altcoins stall: XTZ explodes
Most of the alternative coins have mimicked BTC’s performance lately, meaning they lost value on Saturday and posted impressive gains yesterday.
Today, though, most have stalled or even retraced. Ethereum went from $4,600 to $3,500 in hours during the crash and exceeded $4,400 yesterday. After a minor 24-hour decline, though, ETH stands below that line. Binance Coin has lost a similar percentage and now stands at $585.
Solana fell the most against the larger cap alts. A 6.5% drop drove SOL well below $ 200. Cardano (-5.5%), Avalanche (-5%), Terra (-03%), and Shiba Inu (-3%) are also in the red.
Ripple and Dogecoin are slightly in the red, while Polkadot has gained 1%. Chainlink is the most significant gainer from the larger-cap altcoins, with an 11.5% surge to $22.
Tezos sets itself apart from the small and mid-cap alts. XTZ jumped nearly 30% following a partnership with gaming giant Ubisoft.
Overall, though, the cryptocurrency market capitalization is down by $50 billion in a day and is well beneath $2.4 trillion.
