Bitcoin’s bullish price movements continued in the past 24 hours as the asset spiked to a 20-day high of over $32,000. While most altcoins have calmed on a daily scale, Cardano went on the offensive by registering a massive double-digit surge.
Bitcoin tested $32,000
After several weeks of declines, during which BTC marked nine consecutive weekly candles in the red, the cryptocurrency finally began to recover some ground on May 29. At that time, the asset remained calm at around $29,000, after a few failed attempts to challenge $30,000.
However, the bulls stepped up at this point and pushed it north. In a matter of hours, BTC broke above its round-numbered nemesis and kept climbing to around $31,000. A day later, bitcoin went even further and touched $32,000.
The same scenario repeated itself in the past 24 hours as this time BTC hit an intraday high of $32,400 (on Bitstamp). This is the highest price level bitcoin has seen since May 10.
As of now, it has retraced slightly and stands just under $32,000. As such, its market capitalization has touched $600 billion, while its dominance over the altcoins is well above 46%.
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Cardano skyrockets 15%
Altcoins have also seen notable price increases over the past few days, but most have calmed down on a daily basis. Ethereum jumped from around $1,800 to almost $2,000 at one point, but is not sitting slightly below that level despite a slight 24-hour rise.
BNB is just shy of $320 following a 2% price uptick. Ripple, Polkadot, and Dogecoin are also slightly in the green, while Solana, TRON, Avalanche, and Shiba Inu have retraced a bit.
Nonetheless, Cardano stole the show. ADA has climbed 15% in the past 24 hours and topped $0.6.
Overall, the crypto market cap has remained relatively calm at $1.3 trillion.
