Bitcoin Recovers from Weekend Volatility, Altcoins Turn Green
Bitcoin experienced some unusual volatility over the weekend, dropping by around $1,500. However, it has since recovered most of its losses and is currently hovering around $52,000. Altcoins have also seen a positive turn today, with Ethereum reclaiming the $2,800 level and Solana returning to $110.
BTC Heads Toward $52K Again
After ending last week with a 13% gain, Bitcoin started this week with another surge on Monday that pushed it above $50,000 for the first time in over two years. The US CPI numbers on Tuesday caused a temporary dip to $48,500, but Bitcoin quickly resumed its bullish trajectory.
The momentum continued throughout the week, with Bitcoin breaking above $51,000 and $52,000. On Thursday, it reached a new multi-year peak at $52,900. However, the rally paused temporarily as Bitcoin calmed down and experienced a brief price drop that resulted in $100 million in liquidations.
Currently, Bitcoin is trading close to $52,000 with a market cap of over $1 trillion and dominance over altcoins nearing 50% on CoinGecko.
ADA Takes the Main Stage
Most altcoins retraced yesterday but have already erased their losses today. Ethereum has returned to over $2,800 after a small daily increase. Binance Coin (BNB), XRP, TRON (TRX), Avalanche (AVAX), and Polygon (MATIC) have also seen similar percentage gains.
Solana has increased by over 1% and reached $110 once again. Polkadot (DOT), Chainlink (LINK), and TON Crystal (TON) have gained between 3-4% in value.
Cardano (ADA) has emerged as a standout performer, with an impressive increase of nearly 9%. As a result, ADA has surpassed $0.6 and is currently trading close to $0.65.
Other notable gains include Fetch.ai (FET) with 20%, The Graph (GRT) with 14%, Render Token (RNDR) with 11%, BitTorrent (BTT) with 11%, and Injective Protocol (INJ) with 10%.
The total crypto market cap has increased by a few billion overnight and now stands at $2.050 trillion on CoinGecko.
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