After a few days of falling prices, Bitcoin finally regained the $ 58,000 price range and added another $ 2,000 value, with most of the other altcoins also in the green, with Shiba Inu adding a double-digit percentage as Avalanche hit new highs. The past few days have not been smooth for the big cryptocurrency and shortly after the recent high hit $ 69,000, the asset collapsed, losing $ 9,000 in a matter of days. This eventually culminated in a decline to $ 60,000, where BTC stood for a while, but the bears bounced back and pushed them south.
This time around, the cryptocurrency fell below $ 56,000 for the first time in a month and lost about 20% of its value in about a week. The data analysis in the chain shows that long-term owners in a panic refused to sell and continued to accumulate. Since bottoming out, BTC has rebounded, gaining another $ 3,000 to trade over $ 58,000 with a market cap of $ 1.1 trillion. Altcoins have been hit hard, but they’re all green for now. ETH fell below $ 4,000 but then rose 5.5% on a daily scale, sending it back towards $ 4,300.
Binance Coin also fell below $ 550 but then surged above $ 580 after gaining 6.5% in one day, while Solana is up 8.5% in a day and is now north of $ 210 Dollar stands. Shiba Inu and Avalanche hit double-digit percentages. SHIB is up 13% to hit $ 0.0005 while AVAX is up 16% and is approaching $ 120, but that means the AVAX coin has also made a new high. Some of the other wins are clearly from Ripple, Polkadot, Dogecoin, Cardano and Terra because of the higher cap altcoins. The situation with low and mid cap altcoins is even better as Immutable X is the most bullish coin with a daily profit of 43%. Zcash is up 20%, Enjin Coin is up 25%, Fantom is up 16%, Helium is up 13%, and Elrond is up 10%. As such, its market capitalization jumped about $ 100 billion in one day, well above the $ 2.7 trillion for Coinecko.
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