Bitcoin’s price volatility continued in the past 24 hours as the asset slipped below $66,200 at one point, only to rebound and aim at $70,000 once again.
Most altcoins are slightly in the green as well on a daily scale, with ETH challenging $2,000 and BNB tapping $640. SOL is up by over 2% daily.
BTC Aims at $70K Again
It was last Thursday when bitcoin jumped to $70,000 for the first time in over a week, only to be halted and driven south hard. It remained around $68,000 by Friday when it suddenly dumped to under $65,000. Although it had rebounded to $66,000 by Saturday morning, it quickly plunged to $63,000 after the attacks in the Middle East began.
Instead of dumping further as the geopolitical tension began, BTC rebounded strongly to over $68,000 after reports emerged that Iran’s Supreme Leader was killed in the attacks. However, it couldn’t go any higher and dropped to $65,000 by Monday.
Then came an unexpected and rare hourly rally, in which the asset jumped to over $70,000 again in minutes. Another rejection followed, which pushed BTC down to $66,200. More volatility ensued, and the cryptocurrency now trades just under $70,000 again, but some analysts believe there’s a major obstacle in its way.
Its market cap has climbed to almost $1.4 trillion, while its dominance over the alts is up to 57% on CG.
BTCUSD Mar 4. Source: TradingView
ETH Challenges $2K
Most larger-cap alts have posted more modest gains than BTC in the past day. ETH has climbed to just over $2,000 as of press time, while BNB is up to $640 and remains above XRP in terms of market cap positioning. SOL and BCH are up by 2%, while DOGE, ADA, HYPE, and CC have lost somewhere between 1-3% daily.
AAVE has lost the most value from the larger-cap alts, dropping by 6% to $113. In contrast, XDC has rocketed by 9% and now trades at $0.035. ICP and JUP follow suit.
The cumulative market cap of all crypto assets has gained nearly $100 billion since yesterday’s low and is up to $2.440 trillion on CG.
Cryptocurrency Market Overview Mar 4. Source: QuantifyCrypto
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