Bitcoin continued to consolidate in the past 24 hours as it failed to breach $47,000 decisively and is back to $46,000. Most alternative coins have retraced in the same timeframe. Tezos is among the few exceptions as the asset has surged by 25% in a day.
Alts Correct as XTZ Spikes Hard
The past several days were highly volatile for the cryptocurrency space. Ethereum went from above $4,000 to just over $3,000 during the market crash on Tuesday. Since then, though, ETH has attempted to recover most of its value. It went over $3,500 yesterday, but a 3.5% decline has driven it back down to around $3,400.
Cardano, whose network is preparing for the upcoming hard fork, is down by a similar percentage in the past 24% and is beneath $2.5 now. More identical drops come from Ripple, Dogecoin, Chainlink, Bitcoin Cash, Uniswap, and Litecoin.
Interestingly, Solana, which went on to register yet another all-time high above $200 yesterday, has dumped by 13% in a day to $185.
Polkadot and Terra are the only two larger-cap alts well in green. DOT is up by 6% to $31, while LUNA has pumped by 8% and trades at $33.
Tezos is the most significant gainer since yesterday. XTZ has exploded by 27% and tapped $6 just a few hours ago. This became its highest price tag since mid-May.
Further gains come from Celo (26%), ICON (25%), Harmony (22%), Revain (11%), and Curve DAO Token (11%).
Bitcoin Still Sits at $46K
The primary cryptocurrency went through a roller-coaster this week as well. It had gradually increased to $53,000 – a four-month high – before it suddenly dropped by $10,000 in hours and bottomed at $43,000 on Tuesday.
It bounced off and recovered several thousand dollars rather rapidly. As such, it remained around $46,000 during most of yesterday’s trading session. It attempted to challenge $47,000 and even briefly exceeded that level, but the bears returned and drove it south once more.
As of now, BTC still sits at a familiar level – just north of $46,000. Its market capitalization stands at $870 billion, while the dominance over the altcoins has increased slightly to 41.5%.
PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.
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.