After falling almost $4,000 in one day, bitcoin reacted well and rebounded to over $46,000. Most altcoins are also in the green today. Impressive gains are evident for Ethereum, Binance Coin, Solana, Avalanche, NEAR Protocol, Axie Infinity and others.

Bitcoin recovers $46,000

Last week started with a notable surge in bitcoin prices when the asset fell from $45,000 to just under $48,000 to mark its highest price since early January. He failed to break through this level at first, but managed to do so a day later.

After hitting a three-month high, the cryptocurrency stagnated for the next few days and remained between $47,000 and $48,000. That changed on March 31 when BTC fell from $47,700 to just over $44,000 within hours.

Nevertheless, bitcoin reacted well to this price drop and began to recover in value almost immediately. As such, it reached and surpassed $47,000 a few hours ago. Despite returning to $46,600 at the time of writing, BTC is still up over 3% on the day.

BTCUSD. Source: Trading View

AXS and NEAR lead the way

Altcoins also suffered yesterday, but the situation today is vastly different.

Ethereum fell to around $3,300, but a 6% rise since then has pushed the second-largest cryptocurrency to just under $3,500 so far. This is the highest price level for ETH in almost three months.

Binance Coin has added about 5% in value over the past 24 hours and sits at a two-month high at $450. More impressive gains come from Solana (7.5%), Terra (6%), Avalanche (7%), Dogecoin (5%), Shiba Inu (6.5%) and MATIC (5%).

Ripple, Cardano and Polkadot are also in the green but with slightly more modest gains.

NEAR Protocol and Axie Infinity stole the show. NEAR is up nearly 20% and sits above $15. Axie Infinity jumped around 12% on a daily scale, despite the recent hack against Ronin, and sits above $70.

The crypto market capitalization has recovered around $100 billion since yesterday and is again above $2.150 billion.

Presentation of the cryptocurrency market.  Source: Quantify Cryptography
Presentation of the cryptocurrency market. Source: Quantify Cryptography

Binance Free $100 (Exclusive): Use this link to sign up and receive $100 free and 10% off Binance Futures fees for the first month (terms).

PrimeXBT Special Offer: Use this link to sign up and enter code POTATO50 to receive up to $7,000 on your deposits.

Disclaimer: The information found on CryptoPotato is that of the cited authors. It does not represent the opinions of CryptoPotato on whether to buy, sell or hold investments. You are advised to conduct your own research before making any investment decision. Use the information provided at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.

Source link


Please enter your comment!
Please enter your name here