After yesterday’s brief retracement, bitcoin once again turned aggressive and touched $44,000. Most of the alternative coins are still in the green today, with ETH touching $3,200 and SHIB rising 5%.
BTC $44K again
It’s been almost a week since the biggest cryptocurrency started its ascent. The asset was struggling at $37,500 on February 4, but the bulls stepped up and started pushing it north.
First, bitcoin broke above $40,000 before adding another grand in the following hours. After a brief halving, BTC started adding more value again. This time around, it tapped a multi-week high of around $44,000 before rising to $45,500 for the first time since the beginning of January.
After several days of sustained gains, a somewhat slight retracement is expected. It aired yesterday when BTC fell a few thousand dollars to $42,500.
However, bitcoin responded well to this price slide and has since added over $1,500. As a result, it is now above $44,000, and has a market capitalization of close to $850 billion.
SHIB and other Alt in Green
Alternative coins have largely mimicked the performance of BTC recently. Although yesterday was the best but today it has become green.
Ethereum fell below $3,100, but a 3.5% increase since then has now propelled the second-largest cryptocurrency to $3,200. Binance Coin, Ripple, Terra and MATIC marked similar gains, while Cardano, Solana, Polkadot, Avalanche and Dogecoin featured more modest gains.
The Shiba Inu and Cryptocom’s native token are by far the most significant beneficiaries. Both gained around 5%, with SHIB trading at $0.0000033 and CRO trading above $0.5.
Secret (13%), Flow (13%), Kadena (10%), Harmony (9%), ArWave (8%), and NEO (8%) have higher price increases.
The cryptocurrency market cap has soared to nearly $40 billion since yesterday and is back above $2 trillion.
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