Bitcoin recovered most losses from yesterday’s dip below $29,000 but failed at $30,000 once again. The altcoins have continued to trade sideways with a few notable moves in either direction. Ethereum Classic stands out as the most significant gainer.
Bitcoin back below $30,000
The major cryptocurrency has had its troubles with the coveted $30,000 line for over a week now. He made several attempts to overcome this line, but was rejected each time, which pushed him south a few thousand dollars almost immediately.
The latest such example came earlier this week when BTC pumped to $30,600. The same scenario followed, and the asset plummeted by precisely $2,000 to a low of $28,600.
Nonetheless, the bulls escalated and pushed him higher once again. For a brief moment, BTC rose above $30,000 again, but is now just below it.
As such, its market capitalization has gone back down to $565 billion, while the dominance over the altcoins has increased slightly to 44.7% on CoinMarketCap.
ETC stands out
Altcoins have also calmed down recently. Ethereum, for example, has largely followed the price movements of bitcoin. The main ETH line that it fails to overcome decisively is $2,000.
It jumped above that level two days ago but dipped below it yesterday and has remained there now as well after a minor daily retracement. Ripple, Cardano, Solana, Dogecoin, Avalanche, and Shiba Inu are also slightly in the red.
Binance Coin held above $330 after a slight rise. Tron jumped the most of the larger-cap altcoins, pumping 4.4% to $0.08.
While most lower- and mid-cap altcoins are in the red as well, Ethereum Classic has defied the odds with a 10% increase in a day. Consequently, ETC now stands close to $25. The crypto market cap has stalled below $1.3 trillion.
