After yesterday’s heightened volatility, bitcoin rebounded and reclaimed the $30,000 mark. Most altcoins are also in the green today. Cardano leads the way with the most impressive daily surge of 7%.
Bitcoin Tests $30K Again
Bitcoin spent most of the weekend trading around and beneath the $30,000 line before it initiated an impressive leg up on Monday. It took the asset to a multi-day high of just under $32,000.
As the bulls prepared for another ride north, the bears intercepted the move and did what they had been doing for several weeks and pushed BTC hard south.
In a matter of minutes, the cryptocurrency plummeted by almost $3,000 to $29,250 (on Bitstamp). While this was a wild ride on its own, it didn’t stop there as BTC started reclaiming ground fast and found itself surging to $31,500 hours later.
It has since retreated and currently sits at $30,500. Its market capitalization reaches $580 billion and its alts dominance is 46.6%.
Important 24-Hour Bitcoin News
PayPal said it had finally enabled users to withdraw BTC and ETH to their personal wallets.
Canadian digital asset fund manager – 3iQ – has launched Bitcoin and Ethereum ETFs in Australia.
Mash, a Bitcoin Lightning network startup, announced raising $6 million to expand its marketing, sales, and engineering teams.
Grayscale is continuing its efforts to convert its Bitcoin Trust into a cash ETF by hiring a former US Solicitor General.
Cardano Leads the Alts’ Way
The alternative coins experienced similar price fluctuations in the past 24 hours, and most are slightly in the green now.
Ethereum fell well below $1,800 yesterday, but now sits above that level after a 2% rise. BNB, which has suffered from reports that the SEC will investigate Binance, is up 3% and trading near $300.
Ripple, Dogecoin, Tron, Avalanche, and Shiba Inu are also slightly in the green. Cardano has stolen the show once more with a 7% increase. Consequently, ADA sits above $0.6.
The crypto market capitalization regained around $50 billion in a day and now stands at $1.250 billion.
