After falling by nearly $4,000 in a day, bitcoin reacted well and bounced off to above $46,000. Most altcoins are also in the green today. Impressive gains are evident from Ethereum, Binance Coin, Solana, Avalanche, NEAR Protocol, Axie Infinity, and others.

Bitcoin Reclaims $46K

Last week started with a notable price surge from bitcoin when the asset spiked from $45,000 to just under $48,000 to mark its highest price tag since early January. It failed at first to breach that level but managed to do so a day later.

After tapping a three-month high, the cryptocurrency stalled for the next few days and remained between $47,000 and $48,000. This changed on March 31 when BTC slumped from $47,700 to just over $44,000 in a matter of hours.

Nevertheless, bitcoin reacted well to this price drop and started recovering value almost immediately. As such, it spiked to and above $47,000 a few hours back. Despite retracing to $46,600 as of writing these lines, BTC is still over 3% up on the day.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

AXS and NEAR Lead the Way

The altcoins suffered just as badly yesterday, but the situation today is largely different.

Ethereum dropped to around $3,300, but a 6% increase since then has pushed the second-largest cryptocurrency to just under $3,500 as of now. This is ETH’s highest price level in almost three months.

Binance Coin has added around 5% of value in the past 24 hours and sits at a two-month high at $450. More impressive gains come from Solana (7.5%), Terra (6%), Avalanche (7%), Dogecoin (5%), Shiba Inu (6.5%), and MATIC (5%).

Ripple, Cardano, and Polkadot are also in the green but with a bit more modest gains.

NEAR Protocol and Axie Infinity have stolen the show. NEAR is up by almost 20% and sits above $15. Axie Infinity has jumped by around 12% on a daily scale, despite the recent hack against Ronin, and sits above $70.

The crypto market cap has recovered roughly $100 billion since yesterday and is above $2.150 trillion once more.

Cryptocurrency Market Overview. Source: Quantify Crypto
Cryptocurrency Market Overview. Source: Quantify Crypto

Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.

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.

By ndenson

Leave a Reply

Your email address will not be published. Required fields are marked *