Cardano (ADA) Approaches $0.4, Bitcoin (BTC) Maintains $28K: Weekend Watch

Bitcoin briefly dipped below $28,000 yesterday, but has bounced back and is currently inches above that line.

As happens quite often on weekends, trading volumes have dropped and even the more volatile altcoins in nature are pretty quiet today.

BTC back over $28K

The beginning of this week saw some massive price swings. It began with BTC’s price drop to $27,200 on Monday following fake news that Interpol had served Binance CEO CZ with a red notice. However, the asset recovered all losses immediately after Zhao refuted the claims.

Moreover, the bulls drove the cryptocurrency even further north, culminating in approaching $29,000. Bitcoin failed at that point, and the subsequent rejection brought it back to $28,000 by Wednesday. The next few days were pretty quiet as BTC hovered around $28,000.

It dipped below that line yesterday, hitting a daily low of $27,800. However, it has added nearly $400 since then and is currently trading above $28,000.

The market capitalization has regained the level of $540 billion, while the dominance over altcoins has regained some of the recently lost ground and is close to 46%.

ADA Eyes $0.4

The altcoins also went through similar volatility at the beginning of the week, but the past few days have been much less eventful. Ethereum skyrocketed to over $1,950 at one point, charting its highest price tag in nearly eight months. However, ETH has lost some steam and is currently at just under $1,900.

Cardano has risen the most from the top 10 altcoins. ADA is up nearly 3% and inches away from $0.4. BNB, XRP, DOGE, MATIC, SOL, DOT, LTC, SHIB and TRX are also in the green, albeit in a more modest way.

Filecoin and ICP are the other notable winners from the top 50 alters. Overall, however, most altcoins have remained calm, as evidenced by the overall crypto market cap.

The calculation has largely stayed in the same place as yesterday – $1.185T on CoinMarketCap.