Despite the recent volatility, bitcoin has managed to stay above the coveted $20,000 line. Most of the altcoins are also in the green today, with ETH heading towards a 10-day high near $1,200.
Bitcoin remains above $20K
Last week ended on a highly volatile note with bitcoin rising from over $2,000 to under $21,000 within minutes. However, it turned out to be a fake breakout as the cryptocurrency retreated just as quickly.
After such heightened price volatility, the asset calmed down at around $19,000 as the weekend approached, and given the fact that July 4th was a national US holiday, Monday also has a lot to offer in terms of price action. Not done.
The scenario changed on Tuesday when BTC surged above $20,000 before experiencing another roller-coaster in which it fell to $19,250 and bounced back to $20,600.
After another retracement level below $20K, bitcoin jumped above that line and remains there. As such, its market cap is close to $400 billion, while the dominance of alts is at 42.4%.
ETH sees local peak
Most of the altcoins have also gone through similar price movements recently, but are a bit green on the daily scale.
Ethereum is tall with a gain of 3% since yesterday. Moreover, the second largest asset just moved above $1,200, hitting a nine-day high. However, as of now, ETH is only trading below that level.
BNB, Ripple, Cardano, Solana, Dogecoin, Polkadot, Shiba Inu and Avalanche posted minor daily gains. TRON, on the other hand, is a bit red.
Most of the lower- and mid-cap altcoins are still on a daily scale. As a result, the total market cap of all crypto assets is stable at just over $900 billion.
FTX’s CEO – Sam Bankman-Fried – said that his company still has “a few billion” left to bail out other struggling crypto firms.
One of the companies that Elon Musk runs – Boring – will start accepting Dogecoin (DOGE) for various payments.
Following the downturn in the Terra ecosystem, officials in the US and South Korea noted that they would begin sharing data with each other.
Cepolia, a public testnet for Ethereum, has become the second to implement a merge upgrade.
Uprise Investment Fund admitted to losing more than $20 million of its clients and own funds by shorting LUNA in May.
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