Bitcoin went as high as $71,700 yesterday but failed to overcome the $72,000 level and has returned to around $70,000 as of now.
Most altcoins are also quieter today, with red dominating almost all charts. DOGE and BNB, though, are well in the green.
BTC Retraces to $70K
The past five days or so went a lot better than the previous week when Bitcoin slumped hard by over ten grand to a low of under $61,000. It recovered some of the losses last weekend and went on the offensive on Monday and Tuesday.
Wednesday saw another leg up that resulted in BTC jumping to a 15-day high of $71,700. However, the bears intercepted the move and pushed the cryptocurrency south hard. In a matter of hours, the asset fell by over three grand to just over $68,000.
Nevertheless, it quickly started recovering the lost ground and spiked to $71,500 once again yesterday. The scenario repeated, though, and Bitcoin couldn’t go any further. The rejection has been less violent, at least for now, and BTC currently trades at around $70,000. It’s worth noting that there are signs of upcoming volatility today and during the weekend.
Its market capitalization has slipped to $1.375 trillion on CoinGecko, and its dominance over the altcoins has retraced slightly to 49.7%.
DOGE Keeps Rolling
The largest meme coin went on a massive roll yesterday as it surpassed $0.2 and reached $0.23 intraday for the first time in over three years. Despite retracing slightly since then, DOGE is still 5% up on a 24-hour scale and sits north of $0.21.
Bitcoin Cash was the other notable gainer yesterday. Just a few days ahead of its second halving, BCH is up by 3% again today and trades above $580. Binance Coin is also in the green from the larger-cap alts.
In contrast, ETH, SOL, XRP, ADA, AVAX, TON, SHIB, DOT, and LINK have all retraced by somewhere between 1% and 3%.
The total crypto market cap has retraced by about $30 billion and is down to $2.770 trillion on CG.
LIMITED OFFER 2024 for CryptoPotato readers at Bybit: Use this link to register and open a $500 BTC-USDT position on Bybit Exchange for free!
Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.
Cryptocurrency charts by TradingView.
