Bitcoin has returned above $27,000 after briefly dropping below that level yesterday following a minor daily increase.
Today, the altcoins are relatively quiet, with Render Token, Synthetix, and Mas Network taking the main stage with double-digit pumps.
BTC Reclaims $27K
Last week was more volatile than this week, with the most significant price fluctuations coming after the US CPI numbers for April were released on Wednesday. BTC initially rose from $27,500 to $28,400 before falling by almost $2,000.
After a minor increase, the asset headed straight south again, hitting a two-month low on Friday at $25,800. The weekend was more positive and less eventful, as bitcoin returned to $27,000 and spent most of its time there.
The beginning of this week saw a price jump to $27,600, but it was short-lived, and the cryptocurrency dropped below $26,600 once again. However, in the past 24 hours, there has been an increase of almost $1,000, and BTC is now close to $27,500. This comes after Tether announced a new policy that will allow it to purchase certain amounts of bitcoin.
As a result, its market cap has returned to $530 billion, and its dominance over alts is at 46.6%.
RNDR Shoots Up
The altcoins are also slightly up on a daily scale. ETH has managed to defend the $1,800 level with a minor 1% increase. BNB is above $310, following a similar daily jump.
Additional gains come from the likes of Cardano, Polygon, Polkadot, and Uniswap from the larger-cap alts, all of which are up 3-4% in one day.
The biggest gainers in this timeframe, however, are Render Token, Mask Network, and Synthetix. All three have soared by double digits, with RNDR taking centre stage with a massive 20% surge.
The total crypto market cap has added about $15 billion in one day and is back above $1.140 trillion.