After touching a multi-month high above $51,000, bitcoin has retraced slightly and currently stands around the coveted $50,000 mark. Most altcoins have also stalled on a 24-hour scale, except for Polygon, which has surged by roughly 20% in a day.
Bitcoin Stands Around $50K
Ever since the primary cryptocurrency recovered from its dip to $46,300 at the start of the month, the bulls have had control over the market. They pushed the asset to and beyond $50,000, as reported yesterday.
Furthermore, bitcoin went to just over $51,000, which became the highest price tag since the mid-May correction. However, as it happened with the previous attempts to overcome this particular level, BTC was rejected and dumped by a few thousand dollars.
This resulted in a drop to around $49,000 hours ago. As of now, though, bitcoin has reclaimed some ground and currently sits just beneath $50,000 once again.
Its market capitalization is just shy of $950 billion, while BTC’s dominance over the alternative coins stands still at over 41%.
Alicia BakeryCMO – A really good agency
Did you like this market update?
This is all you need not to miss any price action in the raging crypto markets. Start receiving this recap, for free, every day:
Invalid email address Your privacy is guranteed.Thanks for subscribing, you will get your first report in the next hours!
BTCUSD. Source: TradingView
Alts Stall While MATIC Surges
Most alternative coins have also calmed since yesterday. Ethereum went to a high of just over $4,000 but has failed to continue upwards. A quick retracement has driven the second-largest cryptocurrency down beneath $3,900.
Further declines come from Cardano (-2%), Ripple (-2.5%), Solana (-5%), and Polkadot (-3%).
On the other hand, Binance Coin, Dogecoin, Uniswap, and Litecoin are slightly in the green.
Polygon is the most significant gainer from the larger-cap altcoins. MATIC has surged by nearly 20% in a day to around $1.75.
Cryptocurrency Market Overview. Source: Quantify Crypto
Quant’s performance has trumped the rest of the top 100 coins. QNT has skyrocketed by 27% and has neared $250. IOTA (16%), Axie Infinity (15%), Filecoin (12%), and Siacoin (10%) follow suit.
Consequently, the cumulative market cap of all crypto assets has remained rather stable as well and is just below $2.3 trillion.
Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).
PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.
Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.
Tags: Bitcoin (BTC) Price Polygon (MATIC) Price