Latest news about Bitcoin and all cryptocurrencies. Your daily crypto news habit.
After yesterday’s price declines, bitcoin has calmed around the $35,000 price line. Most alternative coins are also somewhat stagnant on a 24-hour scale, aside from Polygon (MATIC). The asset has spiked by double-digits to $1.4.
Minor Recoveries Among Alts: Polygon 15% Up
The weekend didn’t start all that well for the altcoins market. The biggest altcoin, Ethereum, had already retraced from $2,600 to $2,500 before it went even further south to $2,250.
Since then, ETH found some ground and even rebounded above $2,400 earlier today, but has decreased once more to just over $2,300.
As it typically happens, most other alts mimicked ETH’s performance. BNB sat around $360, dumped to $325, bounced back up to $350, and is now just shy of $340.
On a 24-hour scale, though, most are just slightly in the green zone. Cardano has added 3% of value to $1.45. DOGE, XRP, DOT, UNI, BCH, and LTC have charted gains of 1% or less.
The most impressive performer from the larger-cap altcoins is Polygon (MATIC). The asset is up by nearly 15% and is close to overcoming $1.4 once more.
Cryptocurrency Market Overview. Source: Quantify Crypto
Even the lower- and mid-cap altcoins are untypically stable. A few exceptions come from Quant (12% up) and Theta Fuel – TFUEL (11% up). In contrast, Chiliz (-11%), Celo (-8%), and Nexo (-7%) have lost the most.
Consequently, the cumulative market capitalization has recovered around $20 billion and is just over $1.5 trillion.
Bitcoin Stands Still Around $35K
The primary cryptocurrency entered the weekend at well over $37,000 following adoption news from El Salvador and hints from Paraguay, India, and Iran. However, the first trading hours from the weekend drove the asset south by more than $2,000.
As a result, BTC bottomed below $35,000 yesterday. The bulls stepped up and managed to pump the cryptocurrency to above $36,000 briefly. Nevertheless, more adverse price movements followed as bitcoin slipped below $35,000 once more.
As of writing these lines, BTC has reclaimed a few hundred dollars and sits just over $35,000.
Its market capitalization is still well below $700 billion, while the dominance is back to 44%.
BTC/USD. Source: TradingView
Publication date
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.