Bitcoin is testing $ 20,000 as crypto markets add $ 50 billion in one day
After several days of sideways trading, bitcoin finally started a step up and rose above $ 20,000. Most altcoins are also well in the green today, led by Ethereum’s impressive 9% increase.
Bitcoin looks set to recoup $ 20,000
After the end of June, which turned out to be bitcoin’s worst trading month in over a decade, the cryptocurrency experienced increased volatility by increasing by over $ 2,000 in minutes to a multi-day high of just under $ 21,000.
However, this recovery did not last long, and the asset returned below $ 20,000 shortly after. Then came the weekend, which was unusually calm, and BTC settled at about $ 19,000.
Aside from a brief increase to just over $ 19,500, the asset spent most of the next three days at that level. It was just as the 4th of July drew to a close when the cryptocurrency began to gain traction and jumped to an intraday high of $ 20,400 (on Bitstamp).
As of now, BTC has lost a few hundred dollars and sits at around $ 20,000. The market value is up to 385 billion dollars, and the dominance over altcoins is 42.3%.
Remarkable Bitcoin News
The analysis platform Glassnode indicated that the asset may be close to the bottom as market speculators have been cleared.
Celsius Network has repaid $ 120 million of its debt, reducing the BTC liquidation price to less than $ 5,000.
Altcoins See Green
The alternative coins were also quite calm in recent days, but most have turned green now.
Ethereum leads with a significant increase of 9%. Consequently, the second largest crypto has added around $ 100 in a day and stands at $ 1150.
BNB has increased by around 7% since yesterday and has jumped to over $ 230 after struggling below $ 220 in recent days. Solana’s daily increase is equal, and SOL is now at $ 35.
More modest gains come from Ripple, Cardano, Dogecoin, Polkadot, Tron and Shiba Inu, while MATIC has risen 14% to well over $ 0.5.
With several lower and middle values in similar positions, the total market value of crypto has increased to $ 50 billion in one day and is now over $ 900 billion.
Industry news
Circle’s CEO denied recent rumors of company issues, saying the company had no actual exposure to troubled devices.
After the local finance minister suddenly resigned, the Argentines turned to stack coins, which resulted in a significant prize.
The team behind Crema Finance explained how they became the latest DeFi hack victim.
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