After yesterday’s massive price drops, bitcoin rebounded and recovered over $ 1,000. Most altcoins are also slightly in the green today, with Dogecoin outperforming the rest with a substantial double-digit price surge.
Bitcoin in green but still below $ 60,000
The price of bitcoin was gradually heading south after the all-time high reached last week. It failed to continue above $67,000 and lost $7,000 in just a few days.
The asset managed to reclaim some ground and came close to $ 64,000 earlier this week, but was arrested again. This time the bears took full control and pushed BTC south.
In a matter of hours, the cryptocurrency lost more than $5,000 of value. As such, it dropped to $ 58,000, which became the lowest price in two weeks.
BTC initially struggled to recover but has spiked by $1,500 in the past few hours and is close to $60,000 once again. As a result, the asset’s market cap recovered $ 1.1 trillion, but altcoin dominance fell to 44.5% after hitting 47% a few days ago.
Altcoins’ Recovery Attempts
The alternative coins also plummeted hard yesterday. Ethereum has come down to $ 3,900 but has rebounded and topped $ 4,000 as of this writing.
Cardano, Polkadot, Terra, Avalanche, and Chainlink have charted minor gains, while Binance Coin (4%), Solana (2.5%), and Ripple (3.5%) have added a bit more.
Dogecoin is the most substantial winner of the top 10 coins. The meme token is up 32% on a 24-hour scale and is trading at an almost two-month high above $ 0.31. As such, DOGE has managed to reclaim its spot as the 9th largest cryptocurrency by market cap just hours after the self-described Dogecoin-killer – Shiba Inu – took it.
Other gains are evident from Secret (20%), Fantom (18%), Curve DAO Token (15%), Harmony (13%), Polygon (12%), Helium (12%), Enjin Coin (12%) ), Waves (10%) and more.
The cryptocurrency market capitalization has added more than $100 billion since yesterday’s bottom and is above $2.5 trillion as of now.
