Bitcoin’s price headed south on Friday evening as it popped above $58,000 and has remained there since.
The altcoins have also turned green, with XRP, ADA, DOT, BCH, and NEAR leading the pack from the larger caps.
BTC Reclaims $58K
The primary cryptocurrency had a violent end to the previous business week as it dumped hard on July 5 from over $58,500 to a multi-month low of under $54,000. The bulls intercepted the move during the weekend and drove BTC to $58,500 once again.
Another volatile ride followed with a price pump and dump of around $3,000 each at the start of the new business week. The bulls kept the pressure on, and the cryptocurrency briefly surpassed $59,000 on a few occasions, the last of which was after the favorable US CPI numbers on Thursday.
However, the asset failed to keep the momentum going and dropped below $57,000 yesterday. Later on Friday, though, the landscape changed once again and bitcoin jumped to just over $58,000 where it currently trades as well.
Its market capitalization has neared $1.150 trillion, but its dominance over the alts has taken a hit and is down to 50.6% on CG.
XRP Steals the Show
Most of the larger-cap alts have turned green today again. Ethereum is up by more than 2% and now trades above $3,100. Binance Coin has gained 3% and sits well above $535. Solana, Dogecoin, Tron, and Avalanche have posted similar gains.
More impressive price increases come from the likes of Cardano (6.5%), Shiba Inu (5.5%), Polkadot (6.7%), Bitcoin Cash (7.2%), and NEAR Protocol (7.5%).
However, Ripple’s native token has popped out as today’s biggest gainer. XRP is up by 11% and now trades above $0.5.
Similar gains from the mid-cap alts come from the likes of XLM, ICP, and MKR.
The total crypto market cap has added $50 billion overnight and now sits above $2.260 trillion on CG.
Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).
LIMITED OFFER 2024 at BYDFi Exchange: Up to $2,888 welcome reward, use this link to register and open a 100 USDT-M position for free!
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.
