After dropping to $26,600 on Bitcoin pizza day, the cryptocurrency made a comeback and surged almost $1000.
Altcoins such as ETH, MATIC, SHIB, TRX, and AVAX have also seen a slight increase of around 3% daily.
BTC Reclaims $27K
Bitcoin has been in a relatively tight range for the past week or so, as noted by Glassnode yesterday. The analytics resource reported a decline of BTC’s 7-day price range to 3.4%, a rare occurrence in the past three years. Each time this has happened, however, it has been followed by a significant price movement in either direction. Glassnode warned that there could be more volatility to come.
Currently, the asset remains within this range. On Bitcoin pizza day, BTC fell to $26,600 but was boosted by the bulls who pushed it to a multi-day high of almost $27,400.
Despite a lack of continued momentum, BTC still trades above $27,000 as of now, with a market cap close to $530 billion and a dominance over altcoins at a steady 46.4%.
ETH Defends $1.8K
Similar to bitcoin, ETH has seen little movement in the past several days but was gradually losing ground, and almost broke below $1,800. However, it has since seen a 2.5% increase in the past 24 hours and currently trades at $1,850.
Other larger-cap altcoins such as Polygon, Shiba Inu, Tron, and Avalanche have also seen signs of price jumps. BNB, ADA, DOGE, SOL, LTC, and DOT are also seeing gains, albeit more modestly.
The most significant price movements on a daily scale are from Conflux (16%), KAVA (14%), and Render Token (11%).
Overall, the total crypto market cap has improved by around $20 billion in a day and currently stands at $1.140 trillion.
