Bitcoin Consolidation Continues, Avalanche Hits $ 100, New ATH (Market Watch)

[ad_1]

After the last few days of heightened volatility, bitcoin has calmed down to around $ 64,000. Most of the alternate parts also remained unusually stagnant on a 24-hour scale, with the apparent exception of Avalanche, which started up and recorded a new ATH.

Bitcoin Consolidation Continues

Last week was going pretty well for the main cryptocurrency as it recovered from its drop to $ 60,000 and broke new records. It crossed the October peak of $ 67,000 on Tuesday and did so again a day later, with the latest ATH standing at $ 69,000.

However, he was unable to continue north. On the contrary, it fell $ 6,000 in one day and fell below $ 63,000.

The asset rebounded initially and recovered $ 65,000 before another drop in prices took it to a weekly low of just over $ 62,000 as reported yesterday.

Since then, BTC has gained ground and hit $ 65,000 a few hours ago. However, it didn’t stay there and another multi-hundred dollar retracement took it to just over $ 64,000.

Bitcoin’s market cap has once again surpassed $ 1.2 trillion, while altcoin dominance remains at 43%.

BTCUSD. Source: TradingViewAltcoins Keep Calm: AVAX New ATH

Most altcoins have stood still since yesterday. Ethereum lost a minor portion of its USD value and fell to just under $ 4,600. Cardano and Ripple have seen similar price drops and are trading at $ 2.03 and $ 1.18 respectively.

In contrast, Binance Coin rose 2% to $ 640, Polkadot is at $ 46, while a 2.3% jump against Shiba Inu took the popular coin even to $ 0.000053.

Solana, Dogecoin and Terra saw more substantial gains – around 4% each. As a result, SOL is at $ 235, DOGE at $ 0.27, and LUNA is above $ 51.

The avalanche has arisen the most of the larger cap alts. An 11% increase over AVAX means a new all-time high for the token set at $ 100 earlier today.

IoTeX (24%), KuCoin Token (13%) and Loopring (11%) are also representatives of the double-digit price hikes club. In contrast, Decentraland, LEO and Mina lost similar percentages in one day.

The cryptocurrency’s market cap is also at a familiar level from yesterday, around $ 2.9 trillion.

Overview of the cryptocurrency market. Source: Quantify Crypto SPECIAL OFFER (Sponsored) $ 100 free Binance (exclusive): Use this link to sign up and receive $ 100 free and 10% discount on Binance Futures fees in the first month (terms).

PrimeXBT Special Offer: Use this link to sign up and enter the code POTATO50 to get a 50% free bonus on any deposit up to $ 1750.

Disclaimer: The information found on CryptoPotato is that of the cited authors. It does not represent the views of CryptoPotato on whether to buy, sell or hold investments. You are advised to do your own research before making any investment decisions. Use the information provided at your own risk. See Disclaimer for more information.

Cryptocurrency Charts by TradingView.

[ad_2]