The total capitalization of the crypto market in one day was about 100 billion dollars.
After dropping to $65,500 on Monday morning, bitcoin reversed its trajectory and rose more than five grand to hit $71,000 for the first time since last Friday.
Ethereum has recovered the desired level of $2,000, while BNB is close to $650. XRP is above $1.40 despite continued ETF withdrawals.
BTC falls to $71,000
What a wild ride it has been in crypto due to the rapidly developing and escalating tensions in the Middle East. It started at $63,000 for BTC on February 28, when the US and Israel attacked Iran, before the bulls took control and pushed the asset to $74,000 by Wednesday.
A further decline was almost inevitable given the current market sentiment, and BTC gradually lost its value. After falling to $68,000 and below over the weekend, the bears took it south to $65,500 on Monday morning when the legacy financial futures markets opened.
However, bitcoin recovered almost immediately and returned to $68,000. It even challenged the $70,000 level the evening after Trump’s somewhat surprising announcement that the war with Iran was almost over. Although it initially failed there, it regained its mental streak today, reaching just over 71,000 minutes.
Its market capitalization in CG reached 1.420 trillion dollars, while its dominance over alts is more than 57%.
ETH above $2K, HYPE is rising
Ethereum continued its gradual rise, reaching $2,050 after a daily gain of 3%. A similar pump from BNB took the token to around $650, while XRP is above $1.40, although Ripple ETFs saw another major breakout yesterday. DOGE has gained 5% daily and is currently sitting at $0.095.
HYPE rose more than the top 100 alternatives, rising 11% to around $35. XLM, SUI, ZEC, SHIB, AVAX, AAVE and NEAR are compatible.
The combined market capitalization of all crypto assets added $100 billion a day and is now close to $2.5 trillion in CG.
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