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    Home » Market Updates » Green Market Watch: After Dipping to $38K BTC Spiked to $41K, LUNA Up 17%

    Green Market Watch: After Dipping to $38K BTC Spiked to $41K, LUNA Up 17%

    Author: Jordan Lyanchev

    Last Updated Apr 20, 2022 @ 08:35

    The crypto market has turned green with a notable $3,000 increase from bitcoin. Terra has soared by 17% to $90.

    After yesterday’s price dump to below $39,000, the bitcoin bulls returned to the scene and sent BTC several thousand dollars north. The altcoin space is also well in the green today, with impressive double-digit increases from NEAR Protocol and Terra.

    Bitcoin Touched $41K

    Bitcoin dipped below $40,000 for the first time in a month last week, but it quickly recovered the drop and went to $41,000. However, it failed to continue upwards and remained stuck around $40,000 for a while, including the weekend.

    The situation changed on Monday when BTC slumped beneath $40,000 once more, but this time, it kept losing value. This culminated in a decrease to around $38,500, which became the asset’s lowest price point since mid-March.

    However, this is where the bulls stepped up and intercepted the move. Instead of going further south, they pushed the primary cryptocurrency upwards, and it spiked by nearly $3,000 to an intraday high of just over $41,000.

    Despite retracing with a few hundred dollars since then and currently sitting just under that level, BTC is still up by almost 5% on the day. As such, its market capitalization has neared $800 billion once again.

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    BTCUSD. Source: TradingView
    BTCUSD. Source: TradingView

    NEAR and Terra Lead the Alts’ Recovery

    The alternative coins suffered just as badly as bitcoin yesterday, but the landscape today is entirely different.

    The second-largest crypto dumped below $3,000 for the second time in about a week, but a 5% increase since then has helped ETH reclaim that round-numbered milestone.

    Binance Coin spiked by 6% in a day, perhaps amid news about another BNB burn, and now sits above $420. Ripple, Solana, Cardano, Avalanche, Polkadot, Dogecoin, and Shiba Inu are also well in the green.

    Nevertheless, Terra and NEAR Protocol have stolen the show from the larger-cap alts. LUNA has soared by 17% and currently sits at $90. NEAR is up by 14% and trades at $17.

    Even more impressive gains come from STEPN (42%), THORChain (16%), ApeCoin (14%), Zcash (13%), Loopring (12%), ICON (12%), KNC (10%), and others.

    The crypto market cap has added around $100 billion in a day and now sits close to $1.9 trillion.

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