Bitcoin’s price tumbled once again late last night but the asset has managed to recover most losses and now stands well above $60,000.
Most altcoins are slightly in the green on a daily scale, with XRP climbing by 2%, while BNB has dropped by the same percentage.BTC Bounces Above $60K✅✅
It’s safe to say that Uptober has failed to deliver the expected gains so far.🥰🥰 The situation looked different at the start of the current business week as BTC jumped to over $64,400. However, that was short-lived, and the asset started losing value almost immediately.🎗🎗
It had dropped to $62,000 by Wednesday, but the bears kept the pressure mounting, and it further fell to $60,400 on Thursday morning.💯💯 The landscape worsened in the evening when bitcoinslumpedby a few more grand to a multi-week low of $58,800. Asreported, this violent retracement caused roughly $250 million in liquidations on a daily scale at the time.📶📶
Nevertheless, the bulls finally stepped up at this point and didn’t allow any further corrections. Just the opposite, BTC has recovered almost $2,000 since then and now trades around $60,700.📈📈
Still, it’s down by over 1% on a weekly scale, which has pushed its market cap to just under $1.2 trillion.🥰🥰 Its dominance over the alts has also taken a hit and is down to 53.9% on CG.UNI on the Rise.
Most altcoins experienced similar volatility yesterday but have calmed on a daily scale. ETH, SOL, XRP, TON, DOGE, ADA, and AVAX have charted some minor gains over the past 24 hours, while BNB, TRX, and SHIB are slightly in the red.✅✅
UNI and IMX have popped as today’s top performers from the larger-cap alts, with gains of around 4%. In the case of the former, the price surges have only intensified as it is up by 20% since this time last Friday.
Nevertheless, the total crypto market cap has declined slightly since yesterday and is down to $2.220 trillion.
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