After experiencing recent price pumps and reaching new multi-month highs, bitcoin has lost some momentum but is still trading above $30,000.
Most altcoins are also slightly down, with ETH falling below $2,100. However, OKB has experienced double-digit gains and approached its previous all-time high.
Bitcoin Remains Above $30,000
The week began with little movement, similar to the previous weekend, and BTC remained around $28,000. However, the situation changed as Monday drew to a close. The cryptocurrency began to rapidly gain value, rising above $29,000 before reaching $30,000 for the first time since June 2022.
The price surge resulted in reaching $30,500, charting a ten-month high. The CPI data announced on Wednesday resulted in more volatility, with BTC experiencing a $500 pump and dump in a matter of hours.
Bitcoin’s last price surge occurred on Friday when it skyrocketed to just over $31,000 to chart another ten-month high. However, it soon retraced by a similar amount in the following hours.
Since then, BTC has regained some ground and is now trading around $30,500. Its market capitalization has remained close to $590 billion, while its dominance over altcoins is at 46.3%.
OKB Soars 16%
Ethereum was among the top-performing cryptocurrencies in the past few days, especially following the completion of the Shapella update. ETH rose from $1,900 to over $2,100, marking an eleven-month high. However, in the past 24 hours, ETH has lost some ground and is currently trading just below $2,100.
Binance Coin, Ripple, Dogecoin, Polygon, Solana, Polkadot, Litecoin, and Shiba Inu are all slightly down.
In contrast, ARB has jumped by 8% in the past 24 hours, further solidifying yesterday’s massive pump. Nonetheless, OKB is the top performer among the top 50 altcoins, having surged by 16% and exceeding $50 for the first time in about two months.
The total crypto market capitalization has fallen by $15 billion in a day and is currently at $1.270 trillion.
