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Bitcoin went through a volatile weekend, in which it hit a new 13-month high before slipping below $30,000, but managed to defend that level.
Altcoins are quiet on the daily scale except for SOL, AVAX, LEO, ARB and a few others which have added some value.
BTC defends $30K
Last weekend was pretty eventful, even though BTC went through a range of volatility that took it from $31,000 to $29,500 and back to $30,500 in a matter of hours on Friday. However, Saturday and Sunday were quiet, with BTC remaining just above $30,000.
It wasn’t until Tuesday morning that the scenario changed, and BTC climbed above $31,000 once again. It was rejected there, but bulls went on the offensive once again on Thursday, and this time, they managed to propel bitcoin to $31,500 (on Bitstamp) for the first time in 13 months.
However, the asset failed there again and fell to $29,700 by Friday morning. Nevertheless, it bounced back and reclaimed the coveted $30,000 in the next few hours and has remained well above that line ever since.
Its market capitalization is still $585 billion, and its dominance of alternative coins is only down 50%.
SOL, AVAX are on the rise
Altcoins have also experienced increased volatility over the past few days, but most have calmed down on the daily scale. Ethereum at one point reached close to $2,000, but was sharply rejected yesterday and is currently about $150 away from that level.
Binance Coin, Ripple, Cardano, Dogecoin, Litecoin, Tron, Polkadot and Polygon are in the green slightly from the large-cap alts.
Avalanche and Solana stole the show with gains of 7.5% and 13% respectively. As a result, AVAX is above $13, while SOL is north of $22.
Overall, the cumulative market capitalization of all crypto assets has managed to recover over $10 billion in a single day and sits above $1.8 trillion. Recall that the metric declined by $50 billion yesterday alone.
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cryptocurrency chart by Tradingview.
