After several days of sitting quietly, bitcoin finally went on the offensive and broke above $31,000 earlier today.
Most larger-cap altcoins have produced minor volatility in the past 24 hours, aside from LTC and BCH, both of which are down by over 3%.
Last week was relatively calm for bitcoin as the asset it spent most of it trading sideways in a tight range between $30,000 and $31,000. That all changed on Friday, though, when the SEC reportedly issued a warning to all recent Spot BTC ETF filings, calling them “inadequate.”
This has an immediate effect on the cryptocurrency’s price, which tumbled by over $1,500 and fell to a 10-day low of $29,500 (on Bitstamp).
However, that dip to sub-$30,000 levels was short-lived, and BTC bounced off quickly. The bulls drove it north by a grand, and the asset calmed at around $30,500 for the rest of the weekend and even on Monday.
The past 12 hours or so brought a bit more volatility as the cryptocurrency jumped above $31,000. This came after news that BlackRock has refiled for its spot Bitcoin ETF. However, the asset has been unable to decisively overcome that level as of now and currently sits just inches below it.
Nevertheless, its market capitalization has jumped to over $600 billion, and its dominance over the alts has reclaimed some of the recently lost ground and stands at 49.6%.
Litecoin and Bitcoin Cash were among the best performers in the past few weeks, as both charted 14-month highs above $110 and $320, respectively. However, both have retraced by between 3% and 4% since yesterday.
Binance Coin, Ethereum, Solana, Avalanche, and Polkadot are also slightly in the red from the larger-cap alts.
In contrast, XRP, ADA, DOGE, TRX, and MATIC have produced insignificant gains within the same timeframe. LEO, on the other hand, has soared by over 7% and sits close to $4.
Aptos is among the top gainers today, with a 9.5% surge that has taken the asset to well above $8.
The total crypto market cap has added a few billion dollars daily and stands north of $1.210 trillion on CMC.
