Bitcoin reminded of its enhanced price fluctuations with a roller-coaster movement but has since reclaimed $40,000. Most altcoins are well in the green on a daily scale, with Ethereum charging towards $2,700.
Bitcoin Surpasses $40,000
Aside from some brief up and down moves, the past few days have been pretty calm for bitcoin as it has been around $39,000 most of the time. However, everything has changed in the last 24 hours.
The asset traded close to the aforementioned level before it suddenly skyrocketed by nearly $3,000 to almost $42,000. Yet, it dumped just as quickly and returned to $39,000, resulting in over $200 million worth of liquidations for over-leveraged traders.
Nonetheless, the bulls regained control of the market and pushed BTC north again. This time the rise was more gradual, but bitcoin still recovered $40,000. Right now, the cryptocurrency stands at around $40,500. Consequently, its market capitalization has risen well above $750 billion.
Altcoins See Green
The alternative coins also struggled in the past few days with little-to-no decisive movements. Now, though, green dominates the landscape.
Ethereum is among the leaders, with a daily increase of 6%. As a result, the second largest cryptocurrency approached $2,700 after falling to $2,500 and lower earlier this week.
Solana, Polkadot, and Avalanche have displayed similar increases and trade at $83, $18, and $80, respectively.
Binance Coin, Ripple, Cardano, Dogecoin and Shiba Inu posted more modest gains but are still in the green. Among small and mid-cap altcoins, Fantom and EGLD are among the best performers with double-digit jumps.
The crypto market cap is up by around $80 billion in a day and is close to $1.8 trillion after slipping beneath $1.7 trillion.
