After the recent volatility, Bitcoin managed to stay above $20,000 and even rose to $21,000. The altcoin has posted some impressive gains over the past 24 hours, with XRP leading the race.
Bitcoin Eyes $21K
Bulls are trying to recover some of BTC’s lost ground following last week’s massive correction that hit an 18-month low of $17,500 on Sunday.
As a result, it jumped to $21,500 a few days ago. However, bitcoin failed there and fell below $20,000 even after Federal Reserve Chairman Jerome Powell – confirmed the central bank’s plan to continue raising interest rates in a desperate effort to fight skyrocketing inflation.
Nevertheless, BTC quickly returned to its ride below $20,000 and rose above it yesterday. The past 24 hours have marked another move, and the asset is currently just a few inches away from $21,000. As a result, its market cap has once again approached $400 billion, but its dominance has dwindled to below 43%.
Notable bitcoin news
The CEO of Binance believes that bitcoin will eventually hit new highs above $69,000, but it could take up to two years to do so.
Legendary legacy investor Mark Mobius called bitcoin a “leading indicator,” followed by the Dow Zone and other stock market indices.
The US arm of the world’s largest exchange – Binance US – has started offering zero trading fees for BTC spot pairs.
XRP stands out
Most of the alternative coins are continuing with their efforts to recover some of the recent disadvantages.
Ethereum has been fighting with the $1,100 line for several days now, but it now seems to be well above it after a 4.5% daily increase.
After gaining 3.3% in a day, BNB has tapped a multi-day high of over $230. Cardano, Solana, and Polkadot grew by the same percentage to $0.5, $38, and $8, respectively.
After yesterday’s announcement of a new BTC pull, Avalanche is up 9% and has reached near $20.
Nevertheless, Ripple’s native token stands out as the most influential gainer from large cap alts. XRP is up over 13% and is now trading at $0.37.
After stealing the show yesterday, MATIC is in double digits once again. OKB, ATOM, NEAR, XLM, ALGO, XMR, Theta and AXS have also seen notable gains. The crypto market cap is above $30 billion and is close to $950 billion.
In the latest hack against Cross-Chain Bridge, Harmony’s Horizon was exploited, with over $100 million worth of ETH stolen.
The global e-commerce giant – eBay – continues its NFT efforts by buying such a marketplace – KnownOrigin.
Former UK Chancellor Philip Hammond said the kingdom should adopt cryptocurrency and its underlying technology in order to stay close to other countries.
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