Bitcoin’s price dip below $28,000 seems to be short-lived as the asset has spiked back above that level and even tapped $28,500 hours ago.
The altcoins are also slightly in the green. LDO has recovered some of yesterday’s losses, while STX has soared the most.
After the massive volatility last Monday, which brought BTC south by over a grand on fake news surrounding Binance’s CEO, the cryptocurrency performed slightly better and calmer in the following days.
The weekly peak came on Wednesday when bitcoin spiked to just under $29,000. However, the bears intercepted the move and pushed the asset south. As such, BTC returned to around $28,000 and spent most of the next several days around that line.
The weekend was calmer, with bitcoin sitting in a tight range between $27,800 and $28,200. The latest dip to the former came yesterday. Nevertheless, BTC initiated a notable leg-up in the following hours, resulting in a brief jump to over $28,500.
Despite losing a few hundred dollars since then, the cryptocurrency still trades above $28,000. Its market cap has neared $550 billion once more, and its dominance over the alts is again at just over 46%.
Most altcoins were slightly in the red yesterday, but the landscape is exactly the opposite today, with minor gains. Ethereum is 1.5% up on the day and trades at $1,860. The second-largest cryptocurrency registered its highest price tag in eight months last week at over $1,950.
Binance Coin (1.1%) sits above $310. Ripple, Cardano, Dogecoin, MATIC, Solana, Polkadot, Litecoin, Shiba Inu, Tron, and Avalanche have all posted similar gains now.
LDO, one of the poorest performers yesterday, has recovered some ground and sits at $2.4 after a 3.5% increase today.
Stacks’ native token has gained the most today, with a substantial 7% increase. As a result, STX now trades at $0.85. It’s worth noting, though, that STX went well beyond $1 during the hype around the Ordinals NFTs.
The total crypto market cap has erased yesterday’s losses and stands at $1.185 trillion once again.
Cryptocurrency Market Overview. Source: Quantify Crypto
The post Stacks (STX) Soars 7% Daily, Bitcoin (BTC) Reclaims $28K: Market Watch appeared first on CryptoPotato.
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