Bitcoin finally found some relief after the volatility and declines in bitcoin’s price. It reached $20,000.
Many altcoins also saw slight gains. Ripple is the top performer among the alts with larger caps, while ApeCoin has seen a 16% increase.
BTC Return at $20K
It is safe to say that the last week has not been a good one for the primary cryptocurrency. Although the asset reached a multi-week peak at just below $23,000 on September 13th, it was quickly beaten down by the general bearish sentiment and US CPI numbers.
Bitcoin was fighting for $20,000. In just a few days. It did this initially but it eventually fell below $20,000.
BTC’s weekly lowest was $19,300 on Friday. However, the asset reacted positively and bounced back by a few hundred.
It continued climbing in Saturday and Sunday and now exceeds $20,000. Its market cap remains below $400 billion and its dominance over altcoins is at 39.5%.
BTCUSD. Source: TradingView
APE, XRP on the Go
The native cryptocurrency’s price has been struggling since Thursday’s much-hyped Ethereum Merge. It initially reacted calmly at the PoW-toPoS change, but then began its rapid decline in the hours that followed.
In just a matter of hours, ETH dropped from $1,600 down to a multiweek low below $1,400. After a slight daily increase, $1,450 is the current second-largest cryptocurrency.
Similar gains can be seen from Binance Coin and Cardano as well as Solana, Dogecoins, Shiba Inu and MATIC from larger-cap alts.
Ripple is once more outperforming all the other top 10 companies with another huge surge. XRP has seen a 11% rise, bringing it to under $0.4.
ApeCoin is the largest gainer among the mid-cap alts. APE has risen by more than 16% over a 24-hour period and trades well above $5.5
However, crypto market capitalization has not exceeded $1 trillion.
Cryptocurrency Market Overview. Source: Quantify Crypto
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