cryptopotato.com
After a highly volatile and painful trading week, bitcoin’s price continues with its gradual recovery, as it now sits above $86,000.
Many altcoins have produced impressive gains over the past few days, and $XLM stands in a league of its own with a surge past $0.3.
$BTC Calms at $86K
A lot can and has been said about the events that transpired in the cryptocurrency market in the past week. Recall that $BTC stood close to $100,000 on February 21, which was rejected and pushed down to $96,000 the previous weekend.
However, the actual pain started on Tuesday morning with a drop to $86,000. After a minor recovery to $89,000, the cryptocurrency dumped once again to $82,000. The scenario repeated once again on Thursday, with a bounce-off to $86,000, and on Friday morning, with a massive price crash to $78,000.
This became bitcoin’s lowest price tag in over three months. While many, including Arthur Hayes, predicted an even more painful performance during the weekend, $BTC’s price actually reacted well to the latest massacre and now sits about eight grand higher.
Its market capitalization has managed to defend the $1.7 trillion level, while its dominance over the alts stands tall at 58% on CG.
$XLM on a Roll
The altcoins were hit the hardest during the days-long correction, but most have recovered some ground since Friday. XRP continues with its gradual ascent and now stands close to $2.3 after another 5% increase since yesterday.
ADA has defended the $0.6 support and now trades above $0.65. SOL, BNB, DOGE, LINK, and SIU are also with minor gains, while $XLM has soared by 7.5% in the past day and almost 30% since Friday’s low to over $0.32,
In contrast, ETH, LTC, and TRX have charted insignificant losses over the past 24 hours.
Nevertheless, the total crypto market cap is more than $250 billion higher than the low on Friday. However, it’s still under the $3 trillion mark on CG.
