After several days of sideways trading, bitcoin finally started a leg up and surged above $20,000. Most of the altcoins are also in the green today due to Ethereum’s impressive 9% jump.
Bitcoin Wants to Reclaim $20K
Following the end of June, which turned out to be bitcoin’s worst trading month in a decade, the cryptocurrency experienced volatility, rising more than $2,000 within minutes to a multi-day high of $21,000.
However, this uptick did not last long, and the asset soon returned below $20,000. Then came the weekend, which was unusually quiet, and BTC settled around $19,000.
Apart from a brief spike above just $19,500, the asset spent most of the next three days at the above levels. It was when the 4th of July was drawing to its end when the cryptocurrency started to gain traction and jumped to an intraday high of $20,400 (on Bitstamp).
So far, BTC has lost a few hundred dollars and sits around $20,000. It has a market cap of up to $385 billion, and a 42.3% dominance over altcoins.
Notable bitcoin news
Analytics platform Glassnode suggested the asset could be nearing its bottom as market speculators purged.
Celsius Network has paid off $120 million of its debt, thus reducing the BTC liquidation value to less than $5,000.
see altcoin green
Alternative coins were also pretty quiet over the past several days, but most are now green.
Ethereum leads the way with a gain of 9%. As a result, the second largest crypto added almost $100 in a day and stood at $1,150.
BNB is up almost 7% since yesterday and jumped above $230 after struggling below $220 over the past few days. The daily surge for Solana is the same, and the SOL is now at $35.
Ripple, Cardano, Dogecoin, Polkadot, Tron and Shiba Inu gained more modest gains, while MATIC rose 14% to above $0.5.
With several lower and mid-cap alts in similar positions, the total crypto market cap has added $50 billion in a single day and is now above $900 billion.
Industry News
The CEO of Circle denied recent rumors about the company’s issues, saying that the firm had no real contact with the troubled entities.
After the abrupt resignation of the local economy minister, Argentina turned to stablecoins, resulting in a substantial premium.
The team behind Crema Finance explained how they became the victims of the latest DeFi hack.
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Cryptocurrency charts by TradingView.
