BTC Challenges $31K Again, MATIC Explodes 10% Daily (Market Watch)

Bitcoin made another attempt to drop below $31,000, but was stopped, at least for now.

Altcoins turned green today, with ETH near $1,900, BNB closing at $250, and MATIC rising by double digits.

BTC’s $31K challenge

Bitcoin soared to $31,500 last Thursday, its highest price in a year, but failed there and was soon back to around $30,000. Then came the weekend, and the asset calmed down in a tight range between $30,000 and $30,500.

Nothing special happened on Monday as well. BTC was close to breaking below $30,000, but the bulls managed to defend that level and pushed the asset north.

Thus, bitcoin turned aggressive early on Tuesday and jumped above $31,000 for the third time within the past week.

However, as was the case with its previous attempts, it was not as successful and BTC lagged behind by an almost huge margin. As of now, the cryptocurrency trades at around $30,500, and its market cap has climbed above $590 billion.

Its dominance over alts has declined slightly since yesterday and is just under 50%.

MATIC steals the show

Altcoins saw some losses yesterday but the scenario is completely different now, with most of them in the green. Ethereum was among the most modest performers, rising just over 1% to around $1,900. Similar gains have been seen in XRP, DOGE, TRX, DOT and AVAX.

Binance Coin, on the other hand, is up almost 7% and is close to $250. SOL and LTC are up more than 5% to $22 and $98, respectively.

Polygon is the top performer among the large-cap stocks. MATIC is up almost 10% and is trading above $0.7.

With most lower- and mid-cap stocks also turning in the green, the total crypto market cap has increased by over $20 billion in a day and is now close to $1.2 trillion on CMC.