Bitcoin has finally calmed after the recent price fluctuations and has remained just over the $30,000 mark. Most altcoins are also untypically stable on a 24-hour scale. Tezos and FTT are among the few exceptions.
Bitcoin Surpasses $30,000
The past few days have been quite volatile for the major cryptocurrency, starting on June 6, when it surged from below $30,000 to a multi-day high of nearly $32,000.
At that point, though, the landscape changed rather quickly when BTC dumped by more than $2,000 in hours to $29,200. Nevertheless, another price surge followed, and bitcoin found itself trading above $31,500 shortly after.
The swings continued a bit further, pushing BTC south again to $30,000. Since then, however, the cryptocurrency has remained relatively calm around this level and is sitting just above it now. Thus, its market capitalization is $580 billion and its dominance over altcoins is 46.5%.
Notable Daily News
Despite BTC’s ongoing struggles, which means the asset is down more than 50% from its November 2021 high, Michael Saylor continues to be very bullish, explaining why he thinks BTC will eventually mine 1 million bucks.
The US has garnered the community’s focus lately with the most recent regulatory proposition. Interestingly, one of the co-authors of the bill – Senator Kirsten Gillibrand – argued that SEC Chair Gary Gensler agrees with it as he sees BTC and ETH as commodities.
ADA, FTT, XTZ in the green
Altcoins have seen similar volatility since the start of the week, but most are noticeably calmer now. Ethereum is trading above $1,800, BNB is at $290, while XRP, SOL, DOGE, DOT, TRX, AVAX and SHIB all marked insignificant gains.
Cardano continues to outperform the larger-cap alts with a more impressive 3% increase today. As a result, ADA now trades at $0.65.
Among small- and mid-cap altcoins, FTT and XTZ gained the most — 5.5% and 7%, respectively. FTT approached $30, while XTZ sits at $2.15.
