Bitcoin has been relatively calm in the past 24 hours but has remained just over the $21,000 mark. More actions come from some of the altcoins, such as ETH, which has jumped to a 10-day high. Shiba Inu, on the other hand, is the most substantial daily gainer.
ETH, SHIB, SOL on a roll
Alternative coins have recovered some of their recently lost value more impressively than BTC over the past few days.
Ethereum is a prime example as it currently trades above $1,200 (at a 10-day high) following an 8% increase in a day. Just a week ago, ETH had plunged to $900.
BNB mined $240 after a daily jump of 4%. Similar gains are evident for Cardano, Polkadot, Dogecoin, TRON and MATIC.
Solana and Avalanche have soared by about 10% once again. As a result, SOL is well above $40, while AVAX has reclaimed $20.
Shiba Inu is the most impressive performer of larger cap alts with a massive 15% increase. Therefore, SHIB rose to $0.000012.
The overall crypto market cap has risen to just over $950 billion.
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Bitcoin quiet at $21,000
The main cryptocurrency also fell last week, falling to an 18-month low of $17,500 on Sunday. As a result, it had lost almost 50% of its value in about a week.
However, the bulls intercepted these adverse moves and started pushing the asset north. During the week, BTC peaked at $21,500 but failed there and retraced following the Fed Chair’s latest announcement about raising the interest rates.
Nonetheless, bitcoin resumed its offensive trajectory and recovered $21,000 yesterday. As of now, it’s added a few hundred more dollars and sits near $21,500 again. Thus, its market capitalization is over $400 billion, but the alts dominance has fallen to 42.5%.
