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Bitcoin continues to trade in a tight range of around $21,000 following yesterday’s enhanced volatility, with the asset standing just inches away from that line.
Most altcoins are slightly in the green today, with $XMR and Apecoin being the best performers from the larger caps. $NEXO is up by double digits from the lower-cap alts after the recent settlement between the crypto lender and US authorities.
Bitcoin Challenges $21K
Bitcoin’s 2023 has started on a positive note, following the violent 2022, and the cryptocurrency finally reclaimed $17,000 after weeks of struggling below that level.
This turned out to be the breakout moment the asset needed as it went on a roll in the next several days. This resulted in skyrocketing above $21,000 last Saturday for the first time in about two months.
After a relatively quiet rest of the weekend, $BTC went on the offensive at the start of the working week once again. This resulted in exceeding $21,600 to make its highest price tag since September.
The bears intercepted the move and pushed bitcoin south by several hundred dollars. Since then, $BTC has been unable to decisively overcome $21,000 once again and currently sits inches away from it. Nevertheless, there’re now multiple on-chain signs suggesting the start of a new bull market.
$BTC’s market cap has remained above $400 billion, and its dominance over the alts sits tight at 41.4%.
$NEXO Pumps Hard
One of the largest cryptocurrency lenders – Nexo – who has been frequently in the news lately, reached a settlement with the SEC and NASAA, agreeing to pay $45 million in fines for breaking local securities laws. Interestingly, this had a positive effect on the native token’s price, which is up by 12% in the past 24 hours.
$XMR, HBAR, and APE are next in line in terms of daily gains, all of which have added up to 7.5%.
The larger-cap altcoins are calmer, but most are still in the green. Ethereum is back to $1,550 following a 1.5% daily increase. Ripple, Cardano, Polygon, OKB, Polkadot, Shiba Inu, Litecoin, and Tron have increased by somewhere between 1-3%.
Binance Coin, which recently went through its 22nd scheduled token burn, is among the few alts in the red.
The cumulative market cap of all crypto assets has added $10 billion daily and is up to $975 billion on CMC.
