Market Watch: Bitcoin Reclaims $30K, LUNA Recovers 12%

After a relatively quiet weekend, bitcoin saw an impressive jump and reached $30,000. Many altcoins are also in the green. ETH is at $2,000, while BNB has reached a new two week high.

Bitcoin Reclaims $30K

These seven days were significantly less volatile than the week before, when BTC was dumping by $15,000 at one time. The asset was largely around $30,000 for the last week. There were several attempts to overcome this level, but they failed.

BTC reached a record high of $31,000 on May 16, but it was quickly stopped and retraced by more than $2,000 within hours.

The same scenario was repeated several times more, the most recent one being on Friday. After that rejection, bitcoin fell below $29,000 The cryptocurrency traded mostly sideways over the weekend and failed to challenge $30,000.

This happened late last night, when BTC took the offensive and shot up to an intraday peak of more than $30,500 Its market capitalization has risen to $580 billion.

BTCUSD. Source: TradingView

BNB Marks Local Peak, ETH above $2K

Altcoins were also calm over the weekend but many have gone green today. Ethereum is the leading crypto after it has reclaimed $2,000, and even surpassed $2,100 with a 5% daily rise.

BNB has seen a similar pump push it to $330. This is the highest price the asset has seen since May 10. Avalanche and Solana have also seen impressive gains.

Although they are smaller, Tron, Cardano and Polkadot, Dogecoin and Polkadot are also in the green.

Terra’s controversial cryptocurrencies UST and LUNA – both have pumped in recent hours, but are still far from their prices visible two week ago.

The crypto market cap has risen to over $50 billion per day and is now at $1.3 trillion.

Cryptocurrency Market Overview. Source: Quantify Crypto
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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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