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Bitcoin’s price tumbled once again late last night but the asset has managed to recover most losses and now stands well above $60,000.
Most altcoins are slightly in the green on a daily scale, with $XRP climbing by 2%, while $BNB has dropped by the same percentage.
$BTC Bounces Above $60K
It’s safe to say that Uptober has failed to deliver the expected gains so far. The situation looked different at the start of the current business week as $BTC jumped to over $64,400. However, that was short-lived, and the asset started losing value almost immediately.
It had dropped to $62,000 by Wednesday, but the bears kept the pressure mounting, and it further fell to $60,400 on Thursday morning. The landscape worsened in the evening when bitcoin slumped by a few more grand to a multi-week low of $58,800. As reported, this violent retracement caused roughly $250 million in liquidations on a daily scale at the time.
Nevertheless, the bulls finally stepped up at this point and didn’t allow any further corrections. Just the opposite, $BTC has recovered almost $2,000 since then and now trades around $60,700.
Still, it’s down by over 1% on a weekly scale, which has pushed its market cap to just under $1.2 trillion. Its dominance over the alts has also taken a hit and is down to 53.9% on CG.
$UNI on the Rise
Most altcoins experienced similar volatility yesterday but have calmed on a daily scale. ETH, SOL, $XRP, TON, DOGE, ADA, and AVAX have charted some minor gains over the past 24 hours, while $BNB, TRX, and SHIB are slightly in the red.
$UNI and IMX have popped as today’s top performers from the larger-cap alts, with gains of around 4%. In the case of the former, the price surges have only intensified as it is up by 20% since this time last Friday.
Nevertheless, the total crypto market cap has declined slightly since yesterday and is down to $2.220 trillion.
