Following the recent massive volatility, bitcoin made another attempt to overcome $30,000 but failed just inches below that level.
The altcoins have also calmed today, with ETH maintaining $1,900 and XRP jumping almost 3%.
Bitcoin Remains Above $29K
The past several days were quite eventful for the primary cryptocurrency. After trading still at around $27,000 during the weekend and until Tuesday, the bulls took complete control over the market and propelled a massive push-up that drove it to $30,000 in hours.
However, fake reports came out claiming that wallets connected to Mt. Gox and the US government could be disposing of substantial amounts of BTC that plummeted the asset by almost $3,000. When the news was confirmed to be fake, bitcoin went on the offensive once again and reclaimed $28,000 and then $29,000.
That all happened in the span of 36 hours. The past day brought another leg up that drove BTC to just under $30,000. However, it failed there and has since lost several hundred dollars.
Nevertheless, BTC still stands above $29,000, and its market cap remains north of $560 billion. Its dominance over the alts is up to 47%.
ICP, CRO Soar by Double Digits
Most alternative coins mimicked BTC’s enhanced volatility with significant price fluctuations. Ethereum went from $1,800 to over $2,000 in hours, before retracing just as hard and bouncing off. A minor 1% increase in the past 24 hours has helped the second-largest crypto to reclaim $1,900.
Ripple, Dogecoin, MATIC, Solana, Litecoin, and Tron are also slightly in the red from the larger-cap alts. In contrast, Binance Coin, Cardano, Polkadot, and Shiba Inu have retraced daily.
The biggest gainers in the past day are ICP and CRO. The project behind the latter made two massive partnerships this week, with Amazon and Samsung, that propelled yet another price surge. Overall, both assets have pumped by 11%.
These gains have helped the total crypto market cap add $15 billion daily, and the metric sits just north of $1.2 trillion.