Bitcoin Remains Above $42K
It’s safe to say that the primary cryptocurrency has seen better days as it attempted to jump above $47,000 earlier this week. However, it failed on both occasions when the bears returned to the scene and pushed the asset south.As reported over the week, BTC first dropped to $45,000 before another nosedive took it down to $43,000. After bouncing off and adding a grand, bitcoin started plummeting again yesterday and fell to a 17-day low of just over $42,000.
Since then, the cryptocurrency has regained some traction and neared $43,000 hours ago. It has failed to breach that line yet and now stands a few hundred dollars lower.
Nevertheless, its market capitalization remains above the coveted $800 billion level.
The altcoins suffered just as badly as bitcoin yesterday, but most have calmed today with minor gains. Ethereum dropped by $300 in days to $3,200 but has remained above that line following a slight increase.
Binance Coin, Ripple, Solana, Terra, Cardano, and Polkadot are also slightly in the green. Dogecoin and Shiba Inu – the two largest memecoins by market cap – have jumped by more than 3% in a day to $0.15 and $0.000025, respectively.
Cardano and Near Protocol are the only two larger-cap alts with minor declines.
Monero has stolen the show from the mid-cap altcoins with an 8% increase. As a result, XMR jumped to its highest price line since early January at $240.
The crypto market cap, down by $200 billion in less than a week, is still below the $2 trillion level.