After the latest price drops and improved volatility, bitcoin rebounded yesterday and touched $43,000 for the first time in nearly a week. Altcoins are in a better position today with significant price gains from Polkadot, Cardano, Avalanche, MATIC and more.
Bitcoin touches $43,000
Potato encryption I reported on the recent corrections of the underlying cryptocurrency, which started a week ago. It traded at $47,000 when a sudden dump pushed it to $43,000 in hours before another took it south to just over $41,000.
BTC reacted rather positively at this point, and the bulls drove the asset to just under $43,000 a few days later. However, the landscape changed again for the worse on Monday when the cryptocurrency fell below $40,000 for the first time since September 2021.
It bounced back just as sharply and recovered 42,000 hours after that, which resulted in a huge number of liquidations again. Volatility struck again yesterday when BTC dropped to $41,500 before climbing above $43,000, which became the highest price line since the market crash began.
As of now, the asset stands close to $43,000, and its market capitalization has jumped above $800 billion.
Altcoins see all green
Altcoins suffered just as badly as bitcoin during the correction, but the past 24 hours have been significantly more positive. Ethereum fell below $3,000 a couple of days ago, but a 5% increase on a daily scale pushed the second largest cryptocurrency to just under $3,300.
Binance Coin and Ripple rose about 3% to $465 and $0.75, respectively. Solana, Cardano, Polkadot, Terra, Avalanche, Dogecoin, MATIC and Shiba Inu made more impressive increases.
Thus, SOL is at $145, ADA is above $1.2, DOT is north of $26, LUNA is near $80, AVAX is around $95, DOGE is above $0.15, MATIC is above $2.3, and Shiba Inu at $0.0000029.
More gains come from Fantom (22%), Oasis Network (17%), Harmony (15%), OMG Network (15%), Secret (13%), NEAR Protocol (11%), and Mina (11%), and others.
The cryptocurrency market cap rose by $150 billion in two days and regained $2 trillion.
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Cryptocurrency charts by TradingView.