BTC Reclaims $27K, While LDO and LTC Explode by 8% Daily (Market Watch)

BTC Reclaims K, While LDO and LTC Explode by 8% Daily (Market Watch)


After the painful several days in which BTC slumped below $26,000 to chart a new two-month low, the asset has bounced off and reclaimed $27,000 earlier today.

Several altcoins have outperformed bitcoin in the past day so, including LTC, LDO, TONCOIN, APT, BCH, and GRT.

BTC Back Above $27K

It was less than a week ago when bitcoin skyrocketed to a multi-day high of $28,400 after the US CPI numbers for April came out. However, that pump was short-lived and was followed by a severe rejection that drove the asset down by $1,500.

The price fluctuations were not over, and BTC tried its hand at taking down $28,000 again, only to be rejected once more. This time, the price declines were more subtle but violent.

It culminated on Friday when the cryptocurrency plummeted to $25,800 for the first time in two months. The bulls finally came out of their hiding grounds at this point and propelled an impressive leg up that drove bitcoin back to $27,000.

The weekend was somewhat less eventful, and BTC failed to reclaim that level at first. However, that finally transpired Sunday evening, and the asset currently trades close to $27,500. As such, its market cap has gone above $530 billion, and its dominance over the alts is slightly up to 46.5%.

BTCUSD.  Source: Trading View
BTCUSD. Source: Trading View

LTC, LDO Take the Main Stage

Most altcoins were also sitting quietly during the weekend, perhaps due to the lower trading volumes. However, the landscape has changed now for several. Ethereum, Binance Coin, Ripple, Cardano, Dogecoin, Solana, and MATIC are all slightly in the green on a daily scale.

More gaily gains, though, come from the likes of TONCOIN, APT, BCH, and GRT – all of them are up by around 5-6%.

Litecoin and Lido DAO have emerged as today’s top performers, as both are up by 8% or slightly more. As a result, LTC has neared $90, while LDO stands well above $2.

The total crypto market cap has added around $20 billion daily and is close to $1.150 trillion now.

Cryptocurrency Market Overview.  Source: Quantify Crypto
Cryptocurrency Market Overview. Source: Quantify Crypto

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Cryptocurrency charts by TradingView.


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