Bitcoin’s gradual price recovery after the Monday and Tuesday calamity helped the asset jump past $104,000 earlier today, where it faced immediate selling pressure.
XRP is among the top performers from the larger-cap alts, but its 3.6% surge has been dwarfed by ZEC and ICP.
The primary cryptocurrency had a volatile last week when it was stopped at $116,000 and pushed south to around $111,000 before the US Fed cut the interest rates on Wednesday. Surprisingly to some, it dropped after that to under $107,000 but quickly bounced off and returned to $111,000 during the weekend.
Then came the Monday and Tuesday market-wide crash. Within a 36-hour period, BTC’s price tumbled hard first to $104,000 before the bears took complete control of the market and drove it south to just under $99,000. This became the asset’s lowest price point in almost five months.
The bulls finally stepped up after this $12,000 decline in two days and began a modest recovery. BTC tapped $102,000 yesterday and jumped past $104,000 earlier today, but was stopped there and now sits at around $103,000.
Its market capitalization has settled at $2.060 trillion on CG, while its dominance over the altcoins has remained steady at 58.5%.
The privacy coin just seems totally unfazed by the overall bearish moves in the crypto market. The asset skyrocketed by yet another 20% in the past 24 hours and now trades at a multi-year high of well over $500. The other big gainer from the top 50 alts is ICP, which has risen by 24% to $6.2 as of press time.
Ethereum has added just under 2% of value but remains below $3,400, while XRP has surpassed BNB once again in terms of market cap after a 3.7% increase. The asset now trades above $2.30. SOL, TRX, ADA, and LINK are with minor gains, while BNB, DOGE, BCH, and HYPE are with insignificant losses over the past day.
The total crypto market cap has reclaimed the $3.5 trillion level on CG after dumping below $3.3 trillion on Tuesday.
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