Latest news about Bitcoin and all cryptocurrencies. Your daily crypto news habit.
Bitcoin continued with its recent price swings in the past 24 hours but the latest push has taken it to just over $36,000. Most alternative coins are also somewhat indecisive except for XRP. Rippleâs native digital asset has surged by 15% to $1.
Bitcoinâs $3K Price Swings
Following the latest rejection at the $40,000 price line, bitcoin has been gradually declining in value. The primary cryptocurrency dropped to $35,000 on Friday, and the weekend brought more adverse developments.
CryptoPotato reported the latest price dip in which the asset fell to a five-day low beneath $33,500. Although the bulls took control and recovered $3,000 in hours, the price swings were far from over.
Bitcoin kept losing value which resulted in yet another dip to $34,000. Nevertheless, the asset reclaimed some ground since then and currently stands above $36,000.
Its market capitalization, though, is still beneath $700 billion. The market dominance, comparing BTCâs market cap with the altcoins, sits around 43%.
BTCUSD. Source: TradingView
XRP Spikes to $1; ADA Surpasses BNB
Most alternative coins have mimicked BTCâs performance as of late with similar ups and downs. Ethereum is a prime example as it dumped by a few hundred dollars in the past 24 hours again before it recovered most losses to about $2,500.
Cardano, which was gaining traction yesterday, has remained above $1.6 and has actually surpassed BNB as the fourth-largest cryptocurrency by market cap. In contrast, BNB, which is slightly in green, remains stuck around $330.
Nevertheless, Rippleâs native digital token has surged the most in the past 24 hours. XRP is up by roughly 15% to $1. The other larger-cap alts, including DOGE, DOT, ICP, UNI, BCH, LINK, and LTC, have remained somewhat stagnant on a 24-hour scale.
Cryptocurrency Market Overview. Source: Quantify Crypto
Interestingly, even the lower- and mid-cap altcoins have not displayed any significant price swings. Decred (14%) and XinFin Network (10%) are the only two tokens up by double-digits. In contrast, BakerySwap (-8%), Horizen (-7%), and Helium (-6%) have lost the most since yesterday.
As a result, the cryptocurrency market capitalization is still below $1.6 trillion.
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.