Despite falling back several hundred dollars after the last two-week high, bitcoin has remained above $ 50,000. Most altcoins are also slightly in the red after yesterday’s gains, with a few exceptions, such as Bitcoin Cash ABC, which increased by 50%.
Bitcoin holds $ 50K
After a few consecutive weeks of steady price declines, bitcoin finally kicked off an impressive rally yesterday, surpassing $ 50,000. Furthermore, the cryptocurrency continued to rise in the following hours and reached a new two-week high of almost $ 52,000.
However, BTC was unable to continue north as the bears closed in. They pushed it south, but bitcoin is still hovering around $ 51,000. It’s worth noting that the asset was unable to trade above $ 50,000 for two days in a row since the price drop in early December.
The current price level means that BTC’s market capitalization has remained above $ 950 billion, while the dominance over altcoins is 40.6%.
BTCUSD. Source: TradingView
Alts Stall como BCHA Spikes
Alt currencies also posted notable gains yesterday. Ethereum led the charge with a surge above $ 4,100 just days after the asset struggled below $ 3,800. However, a small decline since then has brought ETH down to just $ 4,100.
Binance Coin has been relatively flat at nearly $ 550. More minor losses have come from Cardano, Terra, Polkadot, Shiba Inu, Litecoin, and Chainlink, while Ripple, Avalanche, and MATIC have fallen a bit more.
Solana, Dogecoin, and CRO, on the other hand, are all in the green. SOL is up 2% to over $ 190, DOGE is up over 5% to $ 0.19 and CRO’s 7.5% rise has brought it to $ 0.65.
However, Bitcoin Cash ABC is the most significant winner of the top 100 coins with a 50% increase above $ 100.
The cryptocurrency market capitalization has slightly decreased and is now below $ 2.4 trillion.
Cryptocurrency market overview. Source: Quantify Crypto SPECIAL OFFER (sponsored)
Binance Free $ 100 (Exclusive) – Use this link to sign up and receive a free $ 100 and 10% off fees on Binance Futures for the first month (terms).
PrimeXBT Special Offer: Use this link to register and enter the code POTATO50 to get a 25% discount on commercial rates.
Disclaimer: The information found on CryptoPotato is that of the quoted writers. It does not represent CryptoPotato’s views on whether to buy, sell, or hold investments. You are advised to do your own research before making any investment decisions. Use the information provided at your own risk. See the Disclaimer for more information.
TradingView cryptocurrency charts.
We wish to say thanks to the author of this article for this awesome content
While Bitcoin Holds $ 50K, Bitcoin Cash ABC Up 50% (Market Watch)