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Home » Market Updates » After Extreme Walmart Volatility, Bitcoin Nears $46K: DOT Spikes 9% to 4-Month High (Market Watch)

After Extreme Walmart Volatility, Bitcoin Nears $46K: DOT Spikes 9% to 4-Month High (Market Watch)

Author: Jordan Lyanchev

Last Updated Sep 15, 2021 @ 08:48

As bitcoin prepares for another swing at $46,000, Polkadot has surged by nearly 10% in a day to tap its highest price line since May.

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The past 24 hours were highly volatile for bitcoin and the alternative coins. BTC saw a few multi-thousand dollar moves in both directions before calming around $46,000. On the other hand, Polkadot and Solana have charted impressive gains.

Bitcoin’s Wild 24H Ride

The primary cryptocurrency struggled in the past week as it dropped by $10,000 on September 7th to a multi-day low of $43,000. It attempted a quick recovery but was rejected on numerous occasions at around $47,000.

As such, it had settled below that level where it traded for a while. Yesterday, though, the situation changed when reports came claiming that Walmart has partnered with Litecoin to allow its customers to make purchases via the asset.

The markets reacted immediately, with BTC surging from $44,500 to a daily high of just under $47,000. However, the news turned out to be fake, and bitcoin headed south rapidly. Just minutes later, the cryptocurrency had lost more than $3,000 of value and bottomed at $43,400 (on Bitstamp).

Since then, bitcoin has reclaimed a lot of ground. It bounced off above $45,000 in hours and has increased to just shy of $46,000 as of writing these lines.

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Its market capitalization has risen to over $850 billion while the dominance over the alts sits tight at 41.5%.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

Alts See Green; DOT Surges 9%

The alternative coins mimicked BTC’s performance yesterday. Ethereum went from $3,200 to $3,400 and dumped all the way down to $3,100. Now, ETH has added roughly $200 of value and stands above $3,300.

On a 24-hour scale, Cardano, Binance Coin, Ripple, and Terra are up by a similar percentage (around 3%). Litecoin, the main player of yesterday’s story, is also up daily by 4.5% as it trades at $180.

Avalanche, Solana, and Polkadot are the best performers from the larger-cap altcoins. AVAX has increased by 7%, SOL by 8%, and DOT by more than 9%.

Cryptocurrency Market Overview. Source: Quantify Crypto
Cryptocurrency Market Overview. Source: Quantify Crypto

 

Further gains come from Celo (25%), Synthetix (25%), Mina (24%), Hedera Hashgraph (22%), Perpetual Protocol (21%), ICON (20%), Cosmos (16%), Telcoin (15%), and Tezos (15%).

The cumulative market cap of all crypto assets, which pumped and dumped by billions yesterday, is now up to nearly $2.1 trillion.


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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.

Cryptocurrency charts by TradingView.
Tags: Bitcoin (BTC) Price Polkadot (DOT) Price
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About The Author

Jordan Lyanchev
More posts by this author

Jordan got into crypto in 2016 by trading and investing. He began writing about blockchain technology in 2017 and now serves as CryptoPotato's Assistant Editor-in-Chief. He has managed numerous crypto-related projects and is passionate about all things blockchain. Contact Jordan: LinkedIn

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