Bitcoin rebounded well after falling by $4,000 per day and climbed to $46,000. Many altcoins are also in green today. You can see impressive gains in Ethereum, Binance Coin and Solana as well as Avalanche (NEAR Protocol), AxieInfinity, and other altcoins.
Bitcoin Reclaims $46K
The bitcoin price spike that occurred last week was notable. It jumped from $45,000 to just below $48,000, marking its highest price since January. Although it failed to break that level at first, it was able to do so one day later.
The cryptocurrency crashed after hitting a three-month high. It remained between $47,000 to $48,000 for the next few days. BTC plummeted from $47.700 to just under $44,000 in less than 24 hours on March 31.
Bitcoin reacted positively to the price drop and began recovering its value almost immediately. It soared to $47,000 just a few hours ago. BTC is still more than 3% higher than the previous day, despite retracing back to $46,600 at the time of writing these lines.
BTCUSD. Source: TradingView
XS and NEAR lead the way
Altcoins were just as affected yesterday, but today’s situation is vastly different.
Binance Coin has gained around 5% in the last 24 hours. It is currently at $450, a two-month high. Other notable gains include Terra (6%), Terra (7.5%) and Avalanche (7%) as well as Dogecoin (5%) and Shiba Inu (6.5%) and MATIC (5%).
Cardano and Polkadot also are in the green, but with slightly smaller gains.
NEAR Protocol, Axie Infinity and Axie Infinity are the stars of the show. NEAR has increased by nearly 20% and is now worth $15. Axie Infinity is up by around 12% daily despite the hack against Ronin and now stands at over $70
Since yesterday, the crypto market cap has recovered approximately $100 billion and is now at $2.150 trillion.
Cryptocurrency Market Overview. Source: Quantify Crypto
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.