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Bitcoin fell to $30,000 but managed to bounce off that level and is still a few hundred dollars above that.
Most altcoins are also slightly in the red today, with ADA, SOL, MATIC and DOT falling the most from large caps.
BTC defends $30K
Following Ripple’s historic victory against the SEC, the primary cryptocurrency along with the rest of the market experienced increased volatility towards the end of the trading week. BTC plummeted from below $30,500 to a new 13-month high of over $31,800 after a judge ruled that almost all XRP sales did not constitute security trading.
However, it failed to sustain this momentum and moved back several hundred dollars by Friday. Then came a more violent rejection that pushed it below $30,000 for the third time that week.
The bulls once again stepped up and helped BTC reclaim that round-number milestone by Saturday. The weekend was, as usual, much less eventful, but bitcoin still fell to $30,050 earlier today (on Bitstamp).
Nevertheless, it managed to hold that level and is now trading above it at around $300. Its market cap and dominance remain at $590 billion and 48.5% respectively as of yesterday.
Ada shows the way down
As expected, most altcoins also surged after the SEC-Ripple decision, especially XRP. Within hours, its value almost doubled and reached a 19-month high of $0.95. However, it failed there as well and pulled back to its current level of just over $0.7 over the next few days.
ETH rose above $2,000, but is now at $1,930 after a two-day decline. BNB is back below $250.
The past 24 hours brought more woes for ADA, which declined by over 4%, SOL (-4%), DOGE (-2%), MATIC (-3%), and DOT (-3%).
The native token of Lido DAO declined the most by over 6.5%. As a result, the LDO is now below $2.3.
The total crypto market cap on the CMC remains relatively still at around $1.210 trillion.
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cryptocurrency chart by Tradingview.
