Bitcoin has finally calmed after the recent enhanced volatility and stands relatively stable at $26,000.
The altcoins have turned green on a daily scale today, with BNB recovering 5% since yesterday’s multi-month low.
BTC Back at $26K
Last week was highly volatile for the primary cryptocurrency, which dumped by over $1,500 on Monday as the SEC sued Binance. When the regulator took things a step further on Tuesday by going after Coinbase, BTC took another slight dip to a multi-month low of under $25,400.
Surprisingly, the asset went on a tear in the following hours and shot up by $2,000. That was short-lived, though, as it returned to around $26,500 rather quickly where it stood for the rest of the working week.
As the weekend approached, bitcoin took another dive and dropped all the way back down to $25,500. It tried to recover most losses on Monday but was halted in its tracks at $26,200. The past 24 hours have been relatively quiet, with BTC trading at around $26,000.
Its market capitalization has managed to increase to above $500 billion, while its dominance over the altcoins stands still at just under 48%.
BTCUSD. Source: TradingView## Alts Turn Green
Most altcoins suffered a lot more than BTC during last week’s massacres, which was expected given the fact that quite a few of them were classified as unregistered securities in the SEC’s lawsuits.
Binance Coin is a prime example. It traded above $315 a week ago and dumped to a six-month low of $222 registered yesterday. Now, though, BNB is up by 5% on a daily scale and trades at $235.
The rest of the larger-cap alts are also in the green. Ethereum, Cardano, Dogecoin, Solana, and Polygon have jumped by up to 2%, while XRP, TRX, LTC, DOT, AVAX, and SHIB have added over 3% in a day.
More impressive daily gains come from the likes of UNI, ICP, HBAR, FIL, ARB, and ALGO – all of which have increased by 5% or more.
SUI has shot up the most from the lower-cap alts, having soared by more than 15% in the past day.
In total, the crypto market cap has managed to recover $10 billion in a day and is up to $1.060 trillion.
Cryptocurrency Market Overview. Source: Quantify Crypto
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
