Bitcoin Hit $42,000, And ETH Hit A 10-Day High

Bitcoin recovered all of its losses from Monday’s meltdown, reaching a ten-day high above $42,000. Ethereum followed suit with a similar local high, but the crypto market as a whole has calmed down on a daily basis. Monero is one among the few notable gainers.

The price of bitcoin has reached $42,000

Following a relatively quiet weekend in which bitcoin remained largely unchanged at around $40,000, with no significant moves in either way, the environment for the asset shifted on Monday.

BTC began to lose value quickly, breaking through the $40,000 barrier and plummeting to a monthly high of roughly $38,500, as previously reported. The bulls, on the other hand, jumped in and stopped any further losses.

Bitcoin, on the other hand, began to acquire value and soon found itself above the coveted $40,000 line. Furthermore, it has been steadily rising and reached a high of $41,000 yesterday.

The cryptocurrency reached another minor milestone in the last 24 hours, surpassing the January 2021 ATH of $42,000 for the first time since April 11. As of now, it stands just under that level, and its market capitalization has neared $800 billion.

ETH Saw 10-Day High Too

The alternative coins also went through the same volatile start of the week, with notable price dumps on Monday and recovery sessions in the following few days.

Ethereum, for instance, went below $2,900 for the first time in weeks on Monday. However, it quickly bounced off, reclaimed $3,000, and even jumped to nearly $3,200 yesterday, charting its highest price point since April 11.

On a daily scale, most of the alt space seems relatively calm. Binance Coin sits at $420, while Solana, Terra, Cardano, and Polkadot have remained stagnant.

Ripple, Dogecoin, Shiba Inu, and NEAR Protocol have lost the most value in a day, with up to 4% declines.Monero and Theta are among the few altcoins with impressive daily increases of about 6% each. Consequently, XMR trades above $275, while THETA sits at $3.3.

The crypto market is also quite still standing above $1.9 trillion after dipping below $1.8 trillion earlier this week.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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