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Home » Market Updates » BTC’s Recovery Begins After a 10-Day Low, ICP Steals the Show With 10% Surge (Market Watch)

BTC’s Recovery Begins After a 10-Day Low, ICP Steals the Show With 10% Surge (Market Watch)

Author: Jordan Lyanchev

Last Updated Apr 4, 2024 @ 08:55

ICP, WIF, and NEAR are among the few altcoins with notable price increases over the past 24 hours.

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Bitcoin’s price took another turn for the worse earlier this morning when the asset plummeted to $64,500 for the first time in ten days, but it reacted well to this decline.

The altcoins are in no better shape, with ETH sliding to $3,300 while XRP stands below $0.6.

BTC Begins its Recovery?

Bitcoin went as high as $71,800 last week on a few occasions but was stopped in its tracks before having the chance to break its all-time high of $73,800. After a few retracements, the cryptocurrency calmed at around $70,000 during the weekend.

Another leg up came on Sunday evening but was halted as well at $71,200. The subsequent rejection pushed BTC south hard and it fell to $66,000 yesterday. Another decline came earlier today when BTC dropped to a ten-day low of $64,500 despite the massive outflows from Coinbase.

Nevertheless, the bulls managed to intervene at this point and stopped the freefall. Bitcoin has recovered almost two grand since its intra-day low and now stands above $66,000.

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Its market capitalization remains just inches above $1.3 trillion, while its dominance over the alts is at 49.6% on CoinGecko.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

ICP Steals the Show

The altcoin space has been hit by the recent pullbacks as well. Ethereum dropped by around 2% in the past 24 hours once more and now sits at around $3,300. Ripple is down by a similar percentage and sits beneath $0.6.

Cardano, Dogecoin, Toncoin, Bitcoin Cash, Avalanche, and Polkadot are also slightly in the red. UNI has declined by more than 3.5%.

In contrast, SOL is up by 3.5% and sits close to $190. NEAR and WIF have gained 6% each, while ICP has soared by almost 10%. As a result, ICP now trades above $18.

The total crypto market cap has recovered more than $50 billion since the overnight low and is now at over $2.6 trillion on CG.

Cryptocurrency Market Overview. Source: QuantifyCrypto
Cryptocurrency Market Overview. Source: QuantifyCrypto
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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.
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About The Author

Jordan Lyanchev
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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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