Following yesterday’s drop below $47,000, bitcoin has resumed its bullish trend, adding $2,000 and approaching $49,000. Most alternative coins have stalled, but Avalanche has not. AVAX has reached yet another all-time high, this time exceeding $70.
Bitcoin has reached an 11-day high.
This week began with increased volatility as a result of false reports claiming that Walmart has begun accepting cryptocurrency payments for its online services. Bitcoin gained $1,500 before plummeting by $3,000 minutes later. This resulted in a drop to $43,300.
However, the bulls have maintained firm control of the market since then. They gradually pushed the cryptocurrency north, and BTC reclaimed several thousand dollars in a matter of days.
This changed briefly on Friday, when the asset retraced more than $1,000 to a daily low of $47,600. (on Bitstamp). However, this correction was short-lived, as bitcoin began to rise once more. It increased in value by more than $2,000 in the following hours, reaching $48,800. This is the highest price since last Monday.
Bitcoin’s market dominance has risen above 42 percent, and its market capitalization has risen above $900 billion once more.
AVAX Signs Two ATH Records in a Row
Most alternative coins retraced with their leader yesterday as well. However, some have not increased as much as BTC. Ethereum has recovered from its daily low and is now trading at $3,500, but it is still down 1% on a 24-hour basis.
Cardano, Binance Coin, Ripple, Polkadot, and Dogecoin have all either stalled or dropped by 2-3%. In contrast, Solana, which fell 10% yesterday, has responded well. The recent high-flyer is now worth nearly $160, thanks to an 8% increase.
et, Avalanche is once again the best performer. Yesterday’s all-time high was insufficient for AVAX, as a 16 percent surge has propelled it above $70, setting a new price record.
IOTA (10%), Fantom (8%), LEO (6%), and LEO (5% ) have all made impressive gains, while Shiba Inu, Audius, SushiSwap, and TRON have all retraced by 8% in a single day.
The total market capitalization has recovered more than $60 billion since yesterday’s low, but it remains below $2.2 trillion.