Despite the decline of several hundred dollars after the last two-week high, bitcoin has remained above $ 50,000. Most altcoins are also slightly in the red after yesterday’s gains, with a few exceptions like Bitcoin Cash ABC which is up 50%.
Bitcoin Maintains $50K
Following a few consecutive weeks of consistent price drops, bitcoin finally initiated an impressive leg up yesterday, in which it broke above $50,000. Moreover, the cryptocurrency kept going upwards in the following hours and tapped a new two-week high of almost $52,000.
However, BTC failed to continue north as the bears escalated. They pushed it south, but bitcoin still stands at around $ 51,000. It should be noted that the asset has not been able to trade above $ 50,000 for two consecutive days since the price crash in early December.
The current price level means that BTC’s market capitalization has remained above $950 billion, while the dominance over the altcoins is at 40.6%.
Alts Stall as BCHA Spikes
Alternative coins also posted notable gains yesterday. Ethereum led the charge with a surge above $ 4,100 just days after the asset struggled below $ 3,800. A slight dip since then, however, has taken ETH to just under $ 4,100.
Binance Coin has remained relatively still at nearly $550. More minor losses come from Cardano, Terra, Polkadot, Shiba Inu, Litecoin, and Chainlink, while Ripple, Avalanche, and MATIC have dropped slightly more.
Solana, Dogecoin and CRO, on the other hand, are in the green. SOL is up 2% to over $ 190, DOGE is up over 5% to $ 0.19, and CRO’s 7.5% increase took it to $ 0.65.
Nevertheless, Bitcoin Cash ABC is the most significant gainer from the top 100 coins with a 50% surge to above $100.
The cryptocurrency’s market cap has shrunk slightly and currently stands at less than $ 2.4 trillion.
