Following a few consecutive days of struggling around $42,000, bitcoin went on the offensive and challenged $44,000. The altcoins have all turned green today, with Ethereum rising above $3,000 and Solana surging double-digits to $100 and beyond.
Bitcoin Targets $44K
The primary cryptocurrency tapped a multi-week high at nearly $46,000 on February 10th but failed to continue its ascent and started to lose value rapidly. In a matter of just a few days, it dropped below $42,000, thus losing about four grand.
However, this particular level, which is the January 2021 ATH and the 50-day MA, provided strong support as the asset bounced off of it a few times.
In the past 24 hours, bitcoin started to reclaim some of its lost ground and spiked above $43,000 for the first time in days. Moreover, it kept climbing and even touched $44,000 hours ago.
As of now, it’s still unable to reclaim that level decisively, but the 4.5% daily increase means that BTC’s market capitalization is well above $800 billion.
Altcoins Explode: ETH Above $3K
Most altcoins suffered in the past few days but have turned the page now. Ethereum is a prime example. It slipped to $2,800 after falling by $400 in days. However, the second-largest crypto has surged by nearly 8% on a daily scale and sits close to $3,100 as of now.
Binance Coin has soared to $430 after it dipped below $400 yesterday, due to an 8.5% increase. Similar price increases are evident from Ripple, Cardano, Terra, Polkadot, Dogecoin, and Shiba Inu.
Solana and Avalanche are among the best performers. Both are up by around 10%, meaning that SOL sits above $100, while AVAX is nearing $90.
Further gains come from Gala (19%), The Graph (19%), Kadena (19%), Mina (17%), Hedera (15%), JUNO (14%), THORChain (13%), Helium (12%), and others.
The crypto market cap has increased by around $100 billion in a day and is close to $2 trillion now.
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.
