Bitcoin Reclaims $19,000, Terra Classic (LUNC) Jumps 7% (Market Watch)

After yesterday’s heightened volatility in which bitcoin fell by over $1,500 in hours, the asset has bounced back and jumped above $19,000.

Most altcoins are also a bit green today, with Terra Classic jumping nearly 7% daily.

Bitcoin back over $19K

The primary cryptocurrency was fairly stable over the weekend at $19,000. This came after last week’s price drop from $20,000 to a three-month low of $18,100 when the US Federal Reserve announced its latest interest rate hike.

However, Bitcoin does not tend to stay in one place for long and fell to $18,600 on Monday before shooting up to over $20,000 on Tuesday. The latter was a 12-day high.

As reports emerged that many investors had placed sell orders at the psychological $20,000 line, the asset somewhat expectedly fell by around $1,500 and found itself struggling below $19,000 hours later.

Nevertheless, it reacted quite positively at this point and jumped to above $19,000, reaching an intraday high of $19,800. As of now, it has gone back a few hundred dollars, but the market value is 370 billion dollars, and the dominance over altcoins has reached 40%.

LUNC up 7% daily

Altcoins suffered as hard as BTC yesterday, but the landscape seems quite different today.

Ethereum, which has been underperforming since the merger took place two weeks ago, dumped to around $1,200 at one point yesterday. A similar rise to bitcoins on a daily scale has now pushed ETH to over $1,300.

Binance Coin, Ripple and Solana have added up to 4% in a day and are trading at $281, $0.44 and $33 respectively.

Although more modest, Cardano, Dogecoin, Polkadot, Shiba Inu, TRON, MATIC and Avalanche are also in the green today.

LUNC has jumped about 7% in a day as the battle between South Korean prosecutors and Do Kwon rages on.

The total cryptocurrency market capitalization has added about $20 billion since yesterday’s crash and has remained well above $900 billion.