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    Home » Market Updates » Bitcoin Touched $34K as Minimal Volume Continues: EOS Spikes 14% (Weekend Watch)

    Bitcoin Touched $34K as Minimal Volume Continues: EOS Spikes 14% (Weekend Watch)

    Author: Jordan Lyanchev

    Last Updated Jul 11, 2021 @ 06:57

    Despite the low trading volume, bitcoin initiated a leg up that resulted in recovering a few thousand dollars and even touching $34,000.

    Bitcoin has bounced off from the recent lows and added about $2,000 at one point, but the trading volume still remains relatively low. The alternative coins are untypically stable since yesterday. However, there’re a few exceptions, including an impressive surge by EOS following a significant announcement from Bullish.

    Bitcoin Took a Swing at $34K

    The past several days didn’t go well for the primary cryptocurrency. The asset was trying to break above $35,000 on Wednesday, but the bears regained control and reversed its trajectory.

    Bitcoin started losing value rather rapidly and dumped by roughly $3,000 on Thursday. It reached a two-week bottom at just over $32,000, as reported.

    At that point, though, the bulls stepped up and attempted a quick recovery. As a result, BTC spiked by a few thousand dollars and broke above $34,000 earlier today. However, it failed to maintain above that particular level and has retraced beneath it.

    It’s worth noting, though, that the trading volume is still low. Data from Bitcoinity exemplifies the lack of substantial volume – something that happened last weekend as well. In fact, it was the lowest trading volume in several months at that point.

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    Bitcoin Trading Volume. Source: Bitcoinity
    Bitcoin Trading Volume. Source: Bitcoinity

    EOS Pumps by Double Digits as Alts Calm

    Most of the altcoin field has remained stagnant since yesterday. Ethereum went through a small roller-coaster this week from a high of $2,350 to below $2,100. Nevertheless, the second-largest crypto has calmed just above $2,100 now.

    Binance Coin experienced similar price movements but currently stands over $310. Most other larger-cap altcoins have charted minor gains.

    Those include Cardano (1%), Ripple (1%), Dogecoin (1%), Polkadot (1%), Bitcoin Cash (1.5%), Solana (1.5%), and Litecoin (2%).

    However, EOS is among the most impressive performers, with a notable 14% surge. This comes just a day after news broke that Block.one’s subsidiary – Bullish – plans to go public through a merger with a SPAC.

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

    The most impressive performer from the top 100 coins is the newly-entered – Axie Infinity. AXS is up by 50% in a day and 200% in a week to just shy of $20.

    Flow (38%), Enjin Coin (18%), Stacks (18%), Terra (17%), Decentraland (13%), and Compound (10%) follow.

    The cumulative market capitalization of all cryptocurrency assets has reclaimed some ground as well and is close to $1.4 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 EOS 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. He has managed numerous crypto-related projects and is passionate about all things blockchain. Contact Jordan: LinkedIn

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