Ethereum Painted New ATH Above $3,600 as Bitcoin Slided Below $56,000 (Market Watch)

Bitcoin’s attempts to surge past $58,000 were quickly halted, and the cryptocurrency fell by roughly $3,000 in hours. Although some altcoins have also retraced on a 24-hour scale, this didn’t stop ETH and ADA from painting new all-time high records.

The Latest ATHs Among Altcoins

It’s safe to say that the alternative coins have enjoyed the past few weeks significantly more than their leader. Ethereum, on that matter, has been at the forefront.

The second-largest cryptocurrency has frequently broken into uncharted territory, and the past 24 hours didn’t disappoint. ETH spiked yet again to above $3,600 for its latest record. Nevertheless, the token has retraced slightly and currently sits around $3,450.

Cardano also went for a new ATH, as reported, which came at $1.7. Thus, ADA’s year-to-date gains exceeded 800%.

Litecoin is another impressive performer as of late, and LTC reached a record of its own at just over $370.




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Bitcoin Cash (8%) and Polkadot (5%) have charted substantial gains in the past 24 hours and currently trade above $1,400 and $40, respectively. In contrast, Binance Coin (-3%) and Ripple (-1%) have retraced slightly.

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

Qtum has surged the most from the top 100 after a 72% increase to $32. Bitcoin Diamond (67%), Ethereum Classic (50%), EOS (40%), Lisk (35%), OMG Network (32%), Ontology (28%), BitTorrent (21%), Monero (20%), and more follow.

The cumulative market cap of all crypto assets also broke above a milestone for the first time. After adding more than $200 billion in two days, the metric tapped $2.4 trillion.

Bitcoin Calms at $56K

While some altcoins are heading into uncharted territory, the primary cryptocurrency has failed to produce any substantial gains. Two days ago, bitcoin had fallen below $53,000.

It seemed as the trend started to reverse shortly after as the bulls spiked the asset above $58,000 somewhat rapidly. As reported yesterday, BTC even surged to $58,400, but it failed to continue further.

Just the opposite, the cryptocurrency fell by more than $3,000 after another rejection. Despite recovering $1,000 since then, bitcoin is still roughly 2% down on a 24-hour scale.

BTC’s market dominance continues to suffer, and the metric is down to a new near 3-year low well beneath 45%.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

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Market Watch: ETH Came Inches Away From New ATH as Bitcoin Dips To $52.5K

Bitcoin’s price continues to suffer as the asset dipped by almost $5,000 in the past 24 hours. Despite recovering some ground, its dominance is agonizingly close to breaking below 50% as some altcoins, including Ethereum and Uniswap, have charted notable gains against the dollar and BTC.

Bitcoin Slumps to $52,500

The primary cryptocurrency is still unable to shake off the losses registered during the weekend when it plummeted to a 3-week low of $51,500. In the next few days, BTC attempted to surge higher but failed at $57,500 on Monday and $57,000 yesterday.

The latest rejection that came less than 24 hours ago pushed bitcoin further south. Since then, the cryptocurrency dumped by about $4,500, leading to a low of $52,500 (on Bitstamp).

So far, bitcoin has bounced off and has regained $2,000 of value, and its market capitalization is back above $1 trillion. However, JPMorgan analysts outlined concerns indicating that the asset risks falling even harder if it fails to overcome $60,000 anytime soon.

The latest adverse price developments have harmed bitcoin’s dominance over the market again. The metric comparing BTC’s market capitalization with all other crypto assets is down to just north of 50% – a new 2-year low.




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BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

Alts Retrace but Not ETH

Most alternative coins have followed their leader with steep retracements in the past 24 hours. Binance Coin, which surged above $600 yesterday, has slumped by more than 8% and is down to $560.

Ripple (-7%), Cardano (-3.5%), Chainlink (-2%), Dogecoin (-14%), and Bitcoin Cash (-4%) are also well in the red from the largest-cap altcoins.

In contrast, comes Ethereum’s jump to $2,500 earlier today. Although ETH failed to breach its ATH record and has retraced with about $30, the second-largest cryptocurrency is still more than 6% up on a 24-hour scale.

Uniswap has also pumped hard since yesterday. A 15% surge has driven UNI to north of $36.

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

Somewhat expectedly, more fluctuations are evident from the lower- and mid-cap altcoins. Celo (-15%), Bitcoin Gold (-12%), Ontology (-11%), Siacoin (-10%), Vechain (-10%), Qtum (-9%), and IOST (-8%) have lost the most.

On the other hand, Maker (32%), DigiByte (27%), Polygon (18%), Solana (17%), Compound (13%), and Aave (10%) have gained the most.

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Altcoin Season 2021 Booming as Bitcoin Dominance at 1-Year Low (Market Watch)

After dipping below $57,000, bitcoin initiated another leg up but failed to challenge the coveted $60,000 price line. In contrast, most alternative coins have surged in value, including a new ATH for Binance Coin and a massive increase for XRP, which has further decreased BTC’s dominance over the market, which is currently at a one-year low.

Altcoins in Green; BNB Eyes $400

As reported yesterday, most larger-cap alternative coins were somewhat stagnant, except for XRP. Ripple’s native cryptocurrency had a substantial double-digit gain, and the asset has only doubled down on its increase in the past 24 hours.

Another impressive surge of 27% has taken XRP to a yearly high of over $0.90 reached minutes ago. It’s worth noting that this is XRP’s highest level since mid-2018.

Another notable gainer from the past 24 hours is Binance Coin. BNB has surged by 12% and marked a new all-time high well above $380. Ethereum (5%), Polkadot (5%), Cardano (3%), Uniswap (4%), Litecoin (10%), and Chainlink (6%) are also in the green.

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

Further gains are evident from Stacks (103%), Bitcoin Gold (35%), Fantom (25%), Neo (19%), Tezos (19%), Ontology (17%), Ethereum Classic (16%), Avalanche (15%), Qtum (12%), Huobi Token (12%), and more.




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Ultimately, the cumulative market capitalization of all cryptocurrency assets also registered a new record yesterday by breaking above $2 trillion for the first time.

Bitcoin’s Dominance Keeps Suffering

The primary cryptocurrency is also ahead on a 24-hour scale price-wise. Bitcoin dropped to below $57,000 yesterday but has also initiated a notable leg up.

In the following hours, BTC added roughly $3,000 of value. This resulted in reaching an intraday high of approximately $59,500 (on Bitstamp).

However, the asset couldn’t proceed any higher. The bears took control and pushed it down by several hundred dollars, and BTC currently stands around $59,000.

Bitcoin’s inability to break above $60,000 and head into uncharted waters continues to cost it some of its market dominance. The metric comparing BTC’s market capitalization with all other cryptocurrencies has dropped below 55%, according to CoinMarketCap. Just a few weeks ago, bitcoin’s dominance was above 62%.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

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Bitcoin Stabilizes After $1K Intraday Correction: Litecoin Spikes Above $120 (Market Watch)

Following another consecutive all-time high, this time above $24,000, bitcoin retraced to about $23,500. Some large-cap altcoins such as Binance Coin and Litecoin have doubled-down on their recent gains, with BNB nearing $35 and LTC painting a new yearly high of over $120.

BTC’s New ATH And The Subsequent Retracement

After the highly volatile bullish week that resulted in breaking above $20,000 and a new all-time high of nearly $24,000, bitcoin took a little break, showing signs of consolidation.

However, the brief stagnation was rapidly overshadowed yesterday by another impressive leg up and a new record. This time, BTC breached the $24,000 price level and charted a fresh ATH of over $24,200 (on Bitstamp).

After this impressive record, the bears took charge and quickly drove BTC down by more than $1,000 to a low of $23,100. Nevertheless, the primary cryptocurrency has recovered some of the losses and currently hovers above $23,500.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView


According to data from the analytics company Santiment, the Network Value to Transactions Ratio (NVT) metric points out that the latest ATH could be justified with the increased number of unique tokens in circulations.

The theory behind it suggests that if the value transferred on the network – token circulation, in this case, is too high compared to the current valuation, the NVT deems the asset is undervalued and ripe for a breakout and vice-versa.

Bitcoin Price Vs. Bitcoin NVT. Source: Santiment
Bitcoin Price Vs. Bitcoin NVT. Source: Santiment

Most Altcoins Left Behind: Litecoin Spikes Above $120

While some alternative coins failed to mimic BTC’s surge over the past 24 hours, Litecoin has doubled-down on its impressive performance as of late. LTC is up by nearly 15% since yesterday and marked another yearly high of $124 a few hours back.

Binance Coin is another notable gainer from the top 10. BNB has added 5% of value and currently trades near $34. Interestingly, this could be attributed to discussions within the Binance team that the exchange might start burning more BNB.

On a 24-hour scale, ETH, Ripple, and Bitcoin Cash are slightly in the green. Chainlink, Polkadot, and Cardano have registered minor losses.

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

Further gains are evident from Huobi Token (5%), Zilliqa (4.5%), NEAR Protocol (4%), and FTX Token (4%). In contrast, REN has lost the most (-4.5%), followed by OMG Network (-4%), 0x (-4%), and Ontology (-4%).

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Bitcoin (BTC) $ 26,193.02 0.01%
Ethereum (ETH) $ 1,595.90 0.56%
Litecoin (LTC) $ 63.57 0.58%
Bitcoin Cash (BCH) $ 226.58 5.73%