Bitcoin Consolidates Amid $60K: Fantom (FTM) Spikes 13% (Market Watch)

After several days of price spikes that were impressive and followed by multi-month highs, bitcoin is now slightly lower but still above $60,000. The majority of altcoins are also unusually stable, except Fantom which has surged 13% in one day.

BTC remains above $60K

Four days ago, the primary cryptocurrency was at $54,000. Then, a new set of news about the SEC approval of a Bitcoin ETF in America propelled a huge uptake.

BTC reclaimed $58,000 at first, a level it was previously unable reach. It continued climbing higher. Although it faced resistance at $60,000 psychological level, BTC eventually broke through and won.

This push led to $63,000 becoming the highest price since April. The price of Bitcoin dropped by 3% from its peak, but the bears returned to play and drove it south once more.

Bitcoin lost $3,000 to $60,000 over the next hours. However, it has maintained its value above this coveted level. The market capitalization of bitcoin has fallen to $1.150 trillion and its dominance over alts is at 46%.

BTCUSD Source: TradingView
FTM Surges: lts Stall

Unusual for alternative coins, many have also remained calm following recent gains. After falling below $3500, Ethereum traded at $4,000 for a few days. However, it was unsuccessful. It stopped at just over $3900, and is currently below that level.

Binance Coin has been one of the best performers in recent times, but a 2.7% drop since yesterday has driven it to $465.

Cardano and Ripple are all in the red, as is Terra, Polkadot. Uniswap and Solana have seen minor gains.

Cryptocurrency Market Overview. Source: Quantify Crypto

Most alts of lower and mid-cap have not also produced large fluctuations. Fantom is one of the few exceptions. FTM has seen a surge of more than 13% per day and has reached $2.25.

The crypto market cap is now below $2.5 trillion, down $40 billion from yesterday’s peak.

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Marla Brooks

Marla Brooks – Financial Analysis My name is Marla Brooks, and I am the mainstream behind the”observednews.com”  for the powerful and most delicate insights into the latest activities in the financial analysis category. I started my journey as an independent financial consultant. I had approximately nine years of experience in this field. I am free soul so; my passion for exploring the world has taken me to the nations across the globe and given me the chance to report for a portion of the best news associations. Currently, I am a full-time editor as experienced in finance and started to use my abilities.

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