Bitcoin Reclaims $62K Price Putting $100 Billion Back In Crypto Market Cap
Yesterday wasn’t that good a day for the crypto space. Bitcoin saw a freefall that risked it dropping back down under the $60,000 mark. However, the asset was quick to recover, going back to the $62,000 range in due time. As is the case, when Bitcoin recovers, the entire crypto space recovers as a whole. The majority of altcoins out there saw some gained ground, as well, some benefitting more than others. In the latest price hike, DOGE became the top performer after another magnificent pump, and Bitcoin Cash also re-entered the top ten, having managed to gain 25% in value.
Up And Down The Crypto Market Goes
The latest all-time high for Bitcoin occurred just earlier this week, with the asset registering at the $65,000 range. The world’s first cryptocurrency had seen some ups and downs since, with some emerging reports about Turkey’s ban on digital assets as a means of payment being a possible reason for the price plummet. It did, after all, lose over $4,000 within hours of the announcement.
In the end, the asset managed to stay just above the $60,000 range, but the bull markets managed to regain control and stop a complete breakdown beneath that precious $60K mark. Bitcoin managed to go up by $2,000 and stands at around $62,300 at the time of writing.
Altcoins Following Bitcoin
Now, the technical indicators are suggesting that the first resistance obstacles have been placed at $62,500 and $63,766. The all-time high for the asset, at least for now, has been shifted to the $65,000 mark. Interestingly enough, the asset could potentially lean on the support levels of the previous all-time highs, set at $61,780 and $60,000 should another price drop occur.
Bitcoin’s performance saw most altcoins perform in a similar manner, barring some exceptions. This resulted in them seeing a price drop with Bitcoin, but also meant it’s rising in price now in tandem with Bitcoin. Ethereum, in particular, saw a $150 drop, but managed to near its ATH of $2,500 thanks to the recent price consolidation. Time will tell how this will go from here.
DOGE Behaved like DOGE
Binance Coin went through its 15th Quarterly burn just yesterday, and saw its price dip below the $530 mark. Now, however, the coin is back within the $540 range, having gained over 5% in the meantime.
One of the best performers of this bull run is Dogecoin. The asset managed to trade above the $0.3 ranges today, having managed to climb 24.47%. The coin had reached an all-time high of $0.4 just yesterday, as well.