After several days without any falls, bitcoin finally changed the situation, increasing 6% per day and claiming $19,000
Altcoins are also doing well today with ETH gaining by a similar percentage. Ripple is the top performer today, this time around.
Bitcoin back above $19K
BTC’s past week was not a good one. BTC had reached just below $23,000 on Tuesday, but it failed there. The upcoming US CPI data will bring it down by a few thousand dollars to 20,000.
Shortly after, that coveted level collapsed and BTC found it struggling below it Wednesday. Over the next few days bitcoin was largely at or below that level.
The asset suffered a severe decline at the beginning of this week, falling to $18,300 on Bitstamp. These are just a few of the possible causes for this crash.
BTC responded positively to the drop. It gained more than $1,000 in the hours following and is currently at $19,500. Its market capital is $375 billion. However, its dominance over altcoins has been slowed to close to 40%.
BTCUSD. Source: TradingView
ltcoins Turn Green, too
Alternative coins were just as bad as BTC yesterday, if any worse. However, the landscape today is completely different.
The Merge last Thursday sent Ethereum’s prices spiraling downwards. In just a few days, they dropped by $300. ETH plunged to a multi-month low below $1,300 yesterday. The second-largest cryptocurrency is now worth almost $1,400 thanks to a 6% daily rise.
Binance Coin dropped also hard, but it has seen a similar daily rise to reach $270. Solana and Polkadot are all well-positioned among the larger-cap alts.
Ripple is today the best performing cryptocurrency following the latest developments in the case against the SEC. XRP has risen more than 10% and trades close to $0.4.
Notable price increases have also been seen in lower- and middle-cap alts, which has led to a $40 billion increase in crypto market capital. However, this metric is still a far cry from the desired $1 trillion mark.
Cryptocurrency Market Overview. Source: Quantify Crypto
CryptoPotato’s first post, BTC, ETH Recover 6% Daily and XRP Soars 10% On Latest SEC-Lawsuit News Market Watch appeared first on CryptoPotato.
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