Bitcoin Calms to $24K, Dogecoin Rises 8% (Market Watch)
After the recent local peaks and increased volatility, bitcoin has calmed down and stands around $24,000.
Most altcoins are also uncharacteristically stagnant today, with a few exceptions, one of which is Dogecoin. Thus, DOGE has continued the recent rise of dog-themed memecoins.
Bitcoin stalls at $24K
The past few days have been quite volatile for the primary cryptocurrency. Even the weekend, which usually tends to calm the asset, saw more price swings.
The first saw BTC rise to $25,000 for the first time in over two months. It failed to break it at first, but the bulls returned to the scene fairly immediately and pushed it northward again in the following hours.
This resulted in a price jump to $25,200 – the highest price tag bitcoin had seen since mid-June. However, it was unable to continue climbing and began to back down hard. Within minutes, BTC lost over $1,000 in value, dumping below $24,000.
Since then, the asset has mainly traded around that level. Its market capitalization has defended the $450 billion level, and its dominance over the alts has remained just over 40%.
Dogecoin shows the way
The altcoins went through similar price swings over the weekend and on Monday, but are sitting quietly now.
Ethereum soared to its own 74-day high above $2,050, perhaps fueled by the hype surrounding the upcoming merger. However, the second largest crypto has fallen by almost $200 since then and is now trading below $1,900.
On a daily scale, BNB, Ripple, Cardano, Polkadot, Avalanche and Shiba Inu have all marked negligible gains.
However, Dogecoin is up 8% in a day. As a result, the first ever memecoin has jumped above $0.08.
Monero has gained the most from the lower and mid-cap alts after the recent hard fork. XMR has added 5% of its value and is now north of $170.
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