The past 24 hours saw another dip from bitcoin that drove it south to its lowest price position in a week, but the asset managed to erase those losses in the following hours.
The altcoins are slightly in the green on a daily scale now, as ETH has neared $1,900, while ADA and XRP are up by 2-3%.
Ever since it tapped a two-week high at $28,500 this week, bitcoin’s performance has been quite underwhelming. The cryptocurrency first retraced to $28,000 in a day or so before it plummeted by another grand on Wednesday.
After an unsuccessful attempt to overcome $27,500, the asset started losing value fast once again on Thursday and dropped to $26,600. Another multi-day low came in the past 24 hours when it slipped to $26,500 (on Bitstamp).
However, the bulls managed to intercept this move and pushed bitcoin north by over $500. As such, BTC now trades above $27,000, and its market cap has risen to $525 billion.
Its dominance over the altcoins, though, has taken another hit and is down to 46% after exceeding 46.5% last week.
Most altcoins also fell during the working week but have turned green on a daily scale now. Ethereum went down to $1,850 yesterday, but a 2% increase since then has pushed the second-largest crypto to almost $1,900 as of now.
Binance Coin dipped beneath $305 but stands above it now after a 1% pump. Ripple, Cardano, Dogecoin, Polygon, Solana, Litecoin, Tron, Polkadot, and Avalanche are also in the green from the larger-cap alts, in some cases by up to 3%.
More impressive gains come from the likes of Filecoin, Lido Dao, Aptos, and Arbitrum. All of the above have increased by somewhere between 5-8% on a daily scale.
As such, the cumulative market cap of all crypto assets has recovered around $20 billion from the recent losses and is up to $1.140 trillion now.
