NEAR, RENDER, DOT, and VET are among the other double-digit gainers today.
Bitcoin’s price dipped below $100,000 once again yesterday, but the bulls managed to step up and didn’t allow another breakdown.
Many altcoins have rebounded in a more impressive manner, including ETH, which neared $3,500 again, and XRP, which is above $2.30.
BTC Bounces Above $102K
The business week began on the wrong foot for the primary cryptocurrency. It tapped $111,000 last Sunday, but the bears took complete control of the market on Monday and didn’t let go for days. At first, the asset slipped to $104,000, and after a brief and unsuccessful recovery attempt, it started to lose value once again on Tuesday.
The culmination occurred when it slumped below $100,000 for the first time since June and bottomed at just under $99,000. It bounced off in the following days but was quickly stopped at $104,000 on Wednesday. The overall bearish sentiment continued, and BTC dipped to a five-digit price territory once again on Friday.
This time, the bulls managed to intervene before bitcoin dropped to $99,000. Its recovery attempt was similar as the asset jumped to $104,000 on Friday evening. It has been unable to continue upward and now sits about a grand and a half lower.
Its market cap has rebounded to nearly $2.050 trillion on CG, while its dominance over the alts has dumped from 58.2% to 57.6% in a day.
FIL on the Rise
The declining BTC dominance means one thing – many altcoins have outperformed it. FIL is the undisputed leader, with a massive 50% surge that has pushed it to over $3.30 as of press time. On a weekly scale, the asset has gained more than 110%.
NEAR follows suit with a 22% pump. RENDER, VET, DOT, UNI, LTC, and WLD complete the double-digit price gainer club.
Many of the larger-cap alts have posted impressive increases over the past day as well. ETH is up by 5% to nearly $3,450, while XRP has reclaimed $2.30 after a 5.6% pump. BNB is close to $1,000, while DOGE has surged by more than 9%. ADA, LINK, SUI, XLM, and AVAX are also well in the green.
The total crypto market cap has recovered more than $100 billion daily and is up to $3.550 trillion now.
Cryptocurrency Market Overview. Source: QuantifyCrypto
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Cryptocurrency charts by TradingView.
