[ad_1]
Bitcoin went through a rollercoaster of a trading day, dumping to just over $18,000 before shooting back up to $20,000.
Most altcoins are well in the green on a daily scale, with multiple impressive gains from the likes of Ripple, MATIC, and UNI.
Bitcoin’s Volatility Is Back
The primary cryptocurrency was sitting quietly in a tight range between $19,000 and $20,000 for several days in a row. However, there were expectations that this trend will change yesterday when the US announced its latest CPI numbers.
Once the figures came out, clocking the YoY inflation at 8.2%, BTC indeed reacted with enhanced price movements. In a matter of minutes, the cryptocurrency dropped below $18,200 to mark a new local low.
Hours later, though, it went on the offensive and skyrocketed by almost $2,000. As such, it touched $20,000 for the first time in over a week. Nevertheless, the bears intercepted this move and pushed the asset south once more. As of now, bitcoin stands at around $19,500 once more.
Its market capitalization is back at $375 billion, and its dominance over the altcoins is north of 40% for the first time in weeks.
Altcoins See Green Once More
The coins alternative experienced similar volatility yesterday, but most are well in the green now on a daily scale.
Ethereum had dropped to and below $1,200 following the CPI announcement, but a 3.5% increase has pushed ETH back above $1,300. Cardano was among the poorest performers yesterday but has recovered some ground and now trades close to $0.4.
Binance Coin, Tron, and Dogecoin have increased by up to 5% in a day. More gains come from Ripple (9%), Solana (5.5%), Polkadot (5.3%), Shiba Inu (7.3%), Avalanche (6.7%), and MATIC (10%).
following the latest funding roundUniswap’s native token has soared by 13% and is well above $6.
The cumulative market cap of all crypto assets slipped below $900 billion briefly yesterday. However, the metric has bounced back up and is now at $935 billion.
Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).
PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.
Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making investment any decisions. Use provided information at your own risk. See Disclaimer for more information.
Cryptocurrency charts by TradingView.
[ad_2]
Source link