After yesterday’s multi-week high, bitcoin was halted and pushed south below $22,000. Like last weekend, it begins with at least significant movement from altcoins. Uniswap is one of the very few exceptions with a significant price increase.
Bitcoin’s Journey Has Stopped Above $22K
As recently reported, the past weekend was fairly stable in terms of price action, perhaps driven by the national US holiday, which was on Monday. Once it ended, however, BTC began to gain value and jumped from $19,000 to $20,000.
After a few disclaimers, the property managed to break it and even kept climbing. As a result, it was soon knocking on the door at $21,000, which was cleared on Thursday.
The cryptocurrency continued its rise, rising above $22,000, and tapping a three-week high at around $22,500. However, it was halted at this point, and the bears pushed it south around $1,000.
Nevertheless, it has a market capitalization of over $400 billion, and its dominance over alts at just over 43%.
Notable bitcoin news
Unlike many other crypto miners, Marathon Digital said that it did not sell any of its BTC holdings during the market crash last month.
The bitcoin premium on Coinbase has finally turned green, indicating that institutional investors are buying back.
UNI stands out
Most of the altcoins recorded some impressive gains during the working week but calmed down as the weekend began.
Ethereum tapped a multi-week high of its own above $1,250 but retreated just over 2% and is now at $1,220. Ripple and Dogecoin are also slightly red on the daily scale.
Conversely, BNB, ADA, SOL, DOT, SHIB, and TRX are all in the green, even though their gains are quite insignificant right now.
Among the lower- and mid-cap altcoins, ICP, XCN, and UNI stand out as the biggest gainers. ICP trades above $7, UNI reclaimed $6, and XCN is north of $0.1.
To some extent, the cumulative market capitalization of all crypto assets is still around $950 billion.
Industry News
In a lawsuit filed earlier this month, a California resident accused Solana Labs of selling unregistered securities.
Despite having paid off its debt to Maker, Celsius’s situation continues to worsen, with new reports claiming that its strategies have caused millions of losses to customers and facing fraud lawsuits from its former money manager.
Blockchaincom lost $270 million on a loan it provided to struggling hedge fund Three Arrows Capital.
Elon Musk terminated the deal to buy the social media platform, citing the inability of the Twitter team to provide sensitive data about its operations.
PrimeXBT Special Offer: Use this link to register and enter code POTATO50 to get up to $7,000 on your deposit.
Disclaimer: The information found on Cryptopotato is that of the cited authors. It does not represent the opinion of Cryptopotato whether to buy, sell or hold any investment. You are advised to do your own research before taking any investment decision. Use the information provided at your own risk. See disclaimer for more details.
Cryptocurrency charts by TradingView.
