Ethereum above $ 4000 (market watch)

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After yesterday’s massive price drops, bitcoin rebounded and recovered over $ 1,000. Most altcoins are also slightly in the green today, with Dogecoin outperforming the rest with a substantial double-digit price increase.

Bitcoin in green but still below $ 60,000

The price of bitcoin was gradually heading south after the all-time high reached last week. He failed to exceed $ 67,000 and lost $ 7,000 in just a few days.

The asset managed to reclaim some ground and came close to $ 64,000 earlier this week, but was arrested again. This time the bears took full control and pushed BTC south.

Within hours, the cryptocurrency lost more than $ 5,000 in value. As such, it dropped to $ 58,000, which became the lowest price in two weeks.

BTC initially struggled to recover, but has climbed $ 1,500 in the last few hours and hovers around $ 60,000 again. As a result, the asset’s market cap recovered $ 1.1 trillion, but altcoin dominance fell to 44.5% after hitting 47% a few days ago.

BTCUSD. Source: TradingViewAltcoins recovery attempts

Alternative coins also fell sharply yesterday. Ethereum has come down to $ 3,900 but has rebounded and topped $ 4,000 as of this writing.

Cardano, Polkadot, Terra, Avalanche and Chainlink registered minor gains, while Binance Coin (4%), Solana (2.5%) and Ripple (3.5%) added a little more.

Dogecoin is the most substantial winner of the top 10 coins. The meme token is up 32% on a 24-hour scale and is trading at an almost two-month high above $ 0.31. As such, DOGE managed to reclaim its spot as the 9th largest cryptocurrency by market cap just hours after self-proclaimed Dogecoin killer – Shiba Inu – took it.

Other gains are evident from Secret (20%), Fantom (18%), Curve DAO Token (15%), Harmony (13%), Polygon (12%), Helium (12%), Enjin Coin (12%) ), Waves (10%) and more.

The cryptocurrency’s market cap has grown by over $ 100 billion since yesterday’s low and currently exceeds $ 2.5 trillion.

Overview of the cryptocurrency market. Source: Quantify Crypto SPECIAL OFFER (Sponsored) Binance Futures FREE USDT 50 Voucher: Use this link to sign up and get 10% fee discount and USDT 50 when trading USDT 500 (limited offer).

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Cryptocurrency Charts by TradingView.

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