UNI saw a significant pullback after its recent price surge but stayed above $10. Bitcoin bounced back after yesterday’s dip, almost reaching $52,000. Many other altcoins also saw modest gains, with Ethereum surpassing $3,000 and Solana holding above $100.
Bitcoin experienced a relatively quiet week after several consecutive weeks of price increases. However, one notable surge occurred on Tuesday, propelling the cryptocurrency to a new multi-year peak of exactly $53,000.
Bitcoin’s Price Movement
After reaching this peak, Bitcoin faced a sharp rejection, resulting in a drop of more than two thousand dollars. Despite efforts to recover most of the losses, it struggled to maintain levels above $51,000.
Bitcoin’s price remained relatively stable afterward, with no significant gains observed. In contrast, it briefly dipped to a multi-day low of $50,600.
The landscape shifted as Bitcoin embarked on another upward movement, gaining over a thousand dollars in just a few hours and almost reaching $52,000.
Currently, Bitcoin’s market capitalization has exceeded $1 trillion once again. However, its dominance over altcoins has decreased to 48.6%.
BTCUSD. Source: TradingView
Ethereum and Altcoins Experience Price Movements Amid ETF Speculation
Driven by speculation surrounding the potential approval of spot Ethereum ETFs, the second-largest digital currency has witnessed a surge in the past few weeks. This surge has led to the inevitable challenge of the $3,000 level, with the asset surpassing it multiple times in recent days, only to be pushed back down. In the past 24 hours, Ethereum saw another increase, pushing its price just over $3,000 following a 2.5% rise.
Solana has managed to remain above a significant milestone, trading above $100 currently. Additionally, other altcoins like BNB, XRP, ADA, AVAX, and LINK have also seen slight gains.
Cryptocurrency Market Overview. Source: Quantify Crypto
UNI experienced the most significant decline on a daily scale, dropping by 16%. However, it remains up by double digits since Friday, following recent market movements.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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