Bitcoin experienced uncharacteristic volatility yesterday, falling by about one and a half thousand dollars, but has recovered most of the losses and is now close to $ 52,000.
Most altcoins have also turned green today, with ETH reclaiming $2,800 and SOL returning to $110.
BTC is heading towards $52,000 again
After closing last week with a 13% gain, BTC started its current phase with another increase on Monday, pushing it to $50,000 for the first time in over two years. Tuesday's US CPI numbers caused some concern for bulls as BTC fell to $48,500, but that was short-lived and the asset almost immediately resumed its uptrend.
This led to a break above $51,000 and $52,000 on Tuesday and Wednesday. Further price increases occurred on Thursday, with BTC hitting a new multi-year high of $52,900.
The rally was stopped here, at least for the time being. Bitcoin calmed down in the following days, apart from a brief price drop yesterday that resulted in $100 million in liquidations.
However, the cryptocurrency is currently trading at around $52,000, with its market cap at over $1 trillion and its dominance over altcoins at almost 50% at CG.
BTCUSD. Source: TradingView
ADA takes the main stage
Most alternative coins also rallied yesterday but managed to recoup losses today. As a result, Ethereum has returned to over $2,800 after a small daily increase. BNB, XRP, TRX, AVAX and MATIC are up by similar percentages.
Solana also rose by over 1% and hit the $110 mark again. Polkadot, Chainlink and Toncoin have created between 3 and 4% of the value.
Cardano has taken the main stage with a remarkable increase of almost 9%. As a result, ADA has risen above $0.6 and is now close to $0.65.
Companies such as FET (20%), GRT (14%), RNDR (11%), BTT (11%) and INJ (10%) achieved even greater growth.
The total crypto market capitalization has increased by a few billion overnight and is up to $2.050 trillion at CG.
Overview of the cryptocurrency market. Source: Quantify Crypto
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Cryptocurrency charts from TradingView.
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