Ethereum Spikes 5% to 6-Day High, Bitcoin Eyes $22K (Market Watch)
After several days of sideways trading bitcoin finally made a small move and challenged the $22,000 mark.
Today’s gains in Ethereum Classic and Ethereum are leading to most altcoins being in the green. The former has seen a 5% increase to a 6-day peak, while the latter has seen double-digit gains.
Bitcoin Can Take Down $22K
The cryptocurrency has struggled since the price drop last week, which saw bitcoin plummet from a multimonth high of $25,200 to a low of less than $21,000 over a single week.
It slowed to $21,000, and remained there for several days with only a few short pumps and dumps. BTC initiated a leg-up and the situation was close to $22,000.
It was stopped just before it reached that line. It is now just inches from the line, but the bulls are hoping to make a run for it later.
Its market cap now stands at $415B. However, its dominance over altcoins has been reduced to below 40%.
BTCUSD. Source: TradingView
ETC and ETH Lead the Way
Alternative coins also remained quite stagnant over the past few days, but today brings more gains.
One of the most prominent examples is Ethereum. In just a few days, the asset plunged from $2,050 down to $1,550. However, it began recovering ground earlier in the week. The second-largest cryptocurrency has seen a 5% increase over the last 24 hours, pushing it to a 6-day high above $1,700. This raises the question about whether the Merge is priced in.
Binance Coin also reached a multi-day peak of $300, after a 3% daily rise. Ripple and Cardano as well as Dogecoins, Dogecoins, Dogecoins, Polkadots, Shiba Inus, Avalanche and Polygon are all in the green.
Ethereum Classic has benefited the most from larger-cap alts. ETC trades at close to $40 and is up more than 11%
The crypto market cap is now at $1.050 trillion and has grown by $30 billion per day.
Cryptocurrency Market Overview. Source: Quantify Crypto
Industry News
Tether, the issuer USDT, said that it has not frozen addresses associated to the notorious crypto mixer Tornado Cash, unlike USDC.
The crypto tumbler was recently sanctioned in the USA. Researchers reuploaded it to GitHub and argued that it was freedom of speech.
CryptoPotato’s first post, Ethereum Spikes to a 5% to 6-Day high, Bitcoin Eyes $22K (MarketWatch), appeared first on CryptoPotato.
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