Market Watch: Bitcoin Tests $20K as Crypto Markets Add $50 Billion in a Day

After several days of trading sideways bitcoin finally started a leg up, and jumped above $20,000. Due to Ethereum’s remarkable 9% rise, most altcoins are also in the green today.

Bitcoin Seems Like It Will Reclaim $20K

The cryptocurrency saw increased volatility after June ended, when it experienced the worst month of trading in bitcoin in more than a decade. It surged with over $2,000 in just minutes, to a multi-day peak of just under $21,000.

This uptick did not last long and BTC returned to $20,000 within a few hours. BTC settled at $19,000 on the weekend. This was unusually calm.

The asset spent the majority of the three following days at this level, with the exception of a brief spike to $19,500. Just as July 4 was about to end, the cryptocurrency gained momentum and reached an intraday high at $20,400 (on Bitstamp).

BTC is currently worth around $20,000. It has already lost a few hundred dollars. BTC’s market cap stands at $385 billion and its dominance is 42.3% over altcoins.

BTCUSD. Source: TradingView

Notable Bitcoin News

Glassnode, an analytics platform, suggested that the asset might be close to its bottom due to market speculators having been expelled.

Celsius Network has repaid $120 Million of its debt. This reduces the BTC liquidation cost to below $5,000

ltcoins See Green

Although the alternative coins were also calm over the past few days, most of them have now turned green. With a significant 9% increase, Ethereum leads the pack. The second-largest cryptocurrency has seen an increase of around $100 per day, and now stands at $11,150.

BNB has seen a 7% increase since yesterday, and is now at $230. This comes after the market had struggled to stay below $220 for the past few days. Similar to Solana, SOL is at $35.

There are modest gains from Ripple and Cardano, Dogecoins, Tron, Tron, Polkadot and Shiba Inu. MATIC, however, has surged 14% to well over $0.5.

The overall crypto market cap is now at over $900 billion, with several alts of lower and mid-cap sizes in similar positions.

Cryptocurrency Market Overview. Source: Quantify Crypto

Industry News

Circle’s CEO refuted recent rumors of company problems, saying that the company had never been exposed to any troubled entities.

Argentines resorted to stablecoins after the sudden resignation of their local economy minister. This resulted in a significant premium.

Crema Finance’s team explained how they became the latest DeFi victim.

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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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