It has taken bitcoin five days to recover the most recent losses and jump above $40,000. Most altcoins are well in the green, too, with Ethereum reaching $2,900 and BNB nearing $400.
Bitcoin Tops $40K
The primary cryptocurrency experienced numerous corrections in the past few weeks. The latest started on Friday following more FUD from China. In a matter of hours, bitcoin fell from $42,000 to a daily low of $34,000.
The situation worsened during the weekend, and BTC slumped to $31,000 on Sunday evening. However, the bulls took charge at that point and reversed the trajectory.
Bitcoin started to increase in value gradually and added several thousand dollars in a few days, as reported. In the past 24 hours alone, BTC went even further and jumped above $40,000 for the first time since Friday.
As of writing these lines, the cryptocurrency stands at just over $40,000, and its market capitalization is above $750 billion.
ETH Eyes $3K as BNB Nears $400
The alternative coins mimicked BTC on the way down, but they reacted positively after the lows as well. Ethereum slumped to $1,700 on Sunday but has recovered more than $1,100 since then. In the past 24 hours alone, ETH is up by 7% to over $2,800.
BNB dumped to a low of just over $200. It has surged by nearly 100% since then and currently stands at $380.
Cardano also fell hard, but ADA has resumed its 2021 bull run by an 8% surge since yesterday. As a result, the asset currently trades at $1.8.
Ripple (2.5%), Polkadot (6%), Bitcoin Cash (4%), Uniswap (8%), Chainlink (17%), and Polygon (22%) are also well in the green on a 24-hour scale.
More gains come from lower- and mid-cap altcoins. Holo leads with a 35% surge, followed by Telcoin (30%), Terra (29%), SwissBorg (26%), THORChain (25%), Celo (25%), OMG Network (22%), SushiSwap (21%), Flow (20%), and more.
The crypto market cap has increased to $1.8 trillion. This means that the metric is up by $150 billion in a day and nearly $600 billion since Sunday’s low.
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.