Market Watch: TRON (TRX) Soars 10%, BTC Still Stuck in the Same Range

Bitcoin soared to nearly $39,000 after another dip in price to below $37,000. The altcoin market seems unusually calm. Tron is one of the few notable gainers following a 10% price rise.

Bitcoin Eyes $39K

The cryptocurrency has managed to stay well below the $40,000 mark despite last week’s failed venture. BTC spiked above that level twice, but was violently rejected.

The bears also have almost total control over the market, and they didn’t allow BTC run-ups. They did the exact opposite and drove the asset south. It fell below $38,000 on several occasions.

As bitcoin fell to a daily low at $37,500, the last one occurred 24 hours ago. However, bitcoin recovered some value quickly and reacted positively to the price drop.

It soared by more than $1,000 in just a few hours and climbed to $39,000 within hours. As of writing these lines, it is close to this level. This means that its market capitalization has risen to $740 billion.

BTCUSD. Source: TradingView

TRX adds double digits

Most alternative coins have seen a steady decline in value since the recent price fluctuations.

Ethereum fell from $3,000 to $2,700 at its local peak, but it has since recovered some ground and is now at $2,850. Binance Coin failed to recover $400 and is now just below it.

Solana and Ripple are slightly in red while Terra, Cardano and Polkadot have seen minor increases.

Tron is the largest gainer among the larger-cap alts. TRX trades at $0.08 and is up more than 10% over a 24-hour period.

The cumulative market cap is currently at $1.750 billion, despite the fact that most alts have not registered any significant price movements in either direction.

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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