After another price dip to sub-$37,000 levels, bitcoin went on the offensive and jumped to almost $39,000. Most of the altcoin space seems untypically calm, with Tron being among the very few impressive gainers after a 10% price surge.
Bitcoin Eyes $39,000
After last week’s unsuccessful venture above $40,000, in which BTC climbed north of this level twice but was violently rejected, the cryptocurrency remained well below this coveted line.
Moreover, the bears have had almost complete control over the market and didn’t allow BTC to initiate any run-ups. Just the opposite, they pushed the asset south, and it fell below $38,000 on a few occasions.
The latest came 24 hours ago as bitcoin fell to a daily low of $37,500. Nevertheless, BTC reacted well to this price drop and started to recover in value quite quickly.
In a matter of hours, it jumped by over $1,000 and neared $39,000. It sits close to that level as of writing these lines, which means that its market capitalization has gone up to $740 billion.
TRX adds double digit digits
After the recent price swings, most of the alternative coins have calmed down over the past couple of days.
Ethereum went from a local peak of $3,000 to a multi-week low of around $2,700 but reclaimed some ground and now stands at $2,850. Binance Coin has failed to reclaim $400 and sits just under it.
Ripple, Solana and Dogecoin are slightly in the red, while Terra, Cardano, Polkadot, Avalanche and NEAR Protocol produced minor increases.
Tron is the most substantial gainer from the larger-cap alts. TRX is up by more than 10% on a 24-hour scale and trades close to $0.08.
As most of the alts have not seen substantial price movements in either direction, the cumulative market capitalization also remains stable at around $1.750 billion.
