Bitcoin
A$ 82,542
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A$ 0.0008298
Ethereum
A$ 5,578.9

Ethereum Spikes 25% in 3 Days: Bitcoin Calms Around $35K (Market Watch)

After the enhanced volatility in the past few days in which BTC displayed several multi-thousand dollar moves, the cryptocurrency has calmed around $35,000. Some altcoins have charted more significant gains, with ETH reclaiming $2,100 and DOT surging 6%.

ETH Above $2,100; DOT Reconquers $16

The alternative coins mimicked BTC’s performance in the past several days with adverse price movements on Saturday and recovery sessions on Sunday and Monday.

Ethereum was a prime example of this as it dumped to just over $1,700 at the start of the weekend. However, the second-largest crypto started regaining traction rapidly and has added more than $400 of value since then. As a result, ETH reached a weekly high of around $2,175 earlier today.

While Binance Coin, Cardano, and Dogecoin have either stalled or slightly decreased in the past 24 hours, the rest of the larger cap alts are in the green.

Ripple (2%), Uniswap (3%), Litecoin (4%), Solana (3%), and Chainlink (2.5%) have marked minor gains, while Polkadot and Bitcoin Cash have added the most value.

DOT is up by 6% to above $16, while BCH has jumped by 9% to north of $520.

Cryptocurrency Market Overview. Source: Quantify Crypto

Compound has seen the most gains in a day after a 20% surge to $320. Bitcoin SV, on news that Craig Wright has won a legal case in the crypto sphere, has jumped by 19% to $160.

Elrond (17%), Kusama (17%), Aave (13%), ETC (13%), Cosmos (11%), NEM (11%), XDC (11%), and Zilliqa (10%) are all up by double digits.

The crypto market cap also continues to recover and is now well above $1.4 trillion.

Bitcoin Stalls Around $35K

The primary cryptocurrency led the charge south during the weekend as it dumped to just north of $30,000. The bulls stepped up at this moment, though, and didn’t allow a drop below that coveted level twice in a week.

Just the opposite, the asset started to reclaim some of its lost value. Ultimately, BTC added more than $5,000 in a few days and broke above $35,000 briefly yesterday.

Yet, the bears hadn’t given up yet and pushed it south to around $34,000. Nevertheless, bitcoin bounced off and jumped to a four-day high of $35,500 before calming around $35,000 once more.

Its market capitalization still stands around $650 billion while its dominance has lost some ground and is down to 46%.

BTCUSD. Source: TradingView

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CryptoCurrencyAUDChange 1hChange 24hChange 7d
Bitcoin82,542 0.73 % 0.70 % 0.72 %
Ethereum5,578.9 0.54 % 3.24 % 8.03 %
Binance Coin652.87 0.57 % 1.19 % 4.16 %
Tether1.350 0.47 % 0.65 % 0.40 %
Cardano2.910 0.40 % 0.59 % 0.74 %
Solana265.63 0.49 % 2.34 % 25.26 %
XRP1.470 0.15 % 0.06 % 3.86 %
Polkadot59.09 0.21 % 0.54 % 5.08 %
Dogecoin0.3365 0.40 % 2.02 % 5.28 %
USD Coin1.350 0.46 % 0.61 % 0.42 %

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