Bitcoin Makes a Comeback, Reaches $31,000 Again
After briefly dropping to just over $30,000, bitcoin has rebounded and surged towards the coveted $31,000 mark once more. While most larger-cap altcoins are slightly down, SOL and BCH have neared significant milestones.
Bitcoin Faces SEC Warning but Recovers
Last Friday, the BTC bulls faced a setback when the SEC issued a warning about recent filings for a spot Bitcoin ETF. The cryptocurrency, however, quickly recovered and regained almost all its losses by Saturday. The weekend was relatively calm, with BTC mostly hovering around $30,500.
Bitcoin’s Rollercoaster Ride Continues
Monday and Tuesday saw little price movement, but early Tuesday saw BTC rise to $31,400 before being rejected and dropping to $30,200 on Wednesday. However, the bulls have regained control and initiated another upward movement, pushing bitcoin to touch $31,000 again.
Market Cap Reaches $600 Billion
Bitcoin’s market cap has once again surpassed $600 billion, and its dominance over altcoins is currently close to 50%. Despite some ups and downs, bitcoin continues to show resilience and remains a dominant force in the cryptocurrency market.
Hot Take: Bitcoin’s Resilience Continues
Despite facing challenges such as the SEC warning, bitcoin has proven its ability to recover and regain lost ground. Its recent surge towards $31,000 demonstrates its resilience and strength in the market. With its market cap crossing $600 billion once again, bitcoin remains a force to be reckoned with in the cryptocurrency space.
