Bitcoin Stalls Below $52K
After a series of impressive gains, Bitcoin has finally calmed down and is currently trading just below the $52,000 mark. The recent surge in price has also affected altcoins, with Ethereum dropping below $2,800 and AVAX slipping below $40.
BTC’s Impressive Run
In the past ten days, Bitcoin has experienced a significant bull run. It broke out of its tight range at around $43,000 on February 7 and continued to climb. By the end of the week, it was knocking on the $50,000 door. On February 12, it reclaimed that level and reached a high of $52,900 on Thursday. However, it faced rejection and dropped by $1,000 on Friday. Since then, Bitcoin has been sluggish and is currently just below $52,000.
Altcoins Retrace
Most altcoins followed Bitcoin’s upward trend but have now retraced slightly. Ethereum experienced a minor decline and is now trading below $2,800. SOL lost the $110 level, while AVAX is below $40. Other altcoins like XRP, ADA, DOGE, DOT, LINK, and TON have also experienced losses. However, TON has seen a 3% increase and is now above $0.13.
The total crypto market cap has decreased by about $15 billion overnight but still remains above $2 trillion.
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