Despite spiking to a multi-day high at almost $21,000, bitcoin dumped just as quickly and finished the violent Q2 below $20,000. The altcoins experienced similar volatility, but some are well in the green now, including BNB, MATIC, and The Sandbox.
Bitcoin’s 24-Hour Tour
The major cryptocurrency hit a 10-day high last weekend as it approached $22,000. As the community expected another leap to higher ground, the landscape changed and BTC began to gradually lose value.
As such, it dropped to around $20,000, where it stood for a few days straight. However, it ultimately lost that level and plummeted to $19,000.
The situation worsened yesterday and bitcoin fell to another multi-week low of $18,500. However, when the awful Q2 was coming to an end, the cryptocurrency split and rose over $2,000 within minutes, hitting $21,000.
Nevertheless, that was short-lived, and BTC has since returned below the coveted $20,000 line. As such, its market cap is just under $375 billion, and its dominance over the alts is at 42.5%.
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Notable Bitcoin News
The first nation to legalize bitcoin within its borders – El Salvador – bought the drop by buying another set of 80 coins.
On-chain data reveals that it’s not just MicroStrategy and El Salvador accumulating at the moment as retail investors have been buying BTC, too.
Europe will have its first Bitcoin ETF in July with the approval of the Jacobi Asset Management app.
BNB, MATIC, SAND Soar
Most altcoins went through similar volatility in the past 24 hours, but the overall landscape is slightly more positive than it was on Wednesday and Thursday.
Ethereum has held above $1,000 after coming close to losing that level several times lately. Right now, the second largest crypto is near $1,100.
Cardano, Ripple, Polkadot, and LEO are with similar gains. More impressive increases come from Solana, Dogecoin, Tron, and Shiba Inu.
However, BNB is the best performer among the larger cap alts. The asset jumped more than 7% on a daily scale and sits well above $220.
From the lower- and mid-cap altcoins, MATIC, Stellar, Algorand, and The Sandbox have gained the most. SAND is up by more than 16% in a day and trades at $1,15.
