The total crypto market cap has added $100 billion since yesterday’s low as Bitcoin price jumped to $62,000, BCH surged to over $1,150
After a free fall yesterday, during which Bitcoin price was in danger of falling below $ 60,000, the market’s largest cryptocurrency bounced up and recovered around $ 2,000. Most altcoins have also regained some ground, with some more than others. In addition to the top-performing DOGE, Bitcoin Cash has soared 25% and is back in the top 10.
BTC/USD 4-hour chart | Source: TradingView
Bitcoin price recovered the $ 62,000 zone
After the latest all-time high registered earlier in the week of $ 65,000, the major cryptocurrency reversed its price trajectory. Bitcoin started to decline in value, which escalated yesterday. As some reports emerged that Turkey would implement a ban that would prevent digital assets from being used as a payment instrument, the first cryptocurrency fell by more than $ 4,000 in an hour.
This resulted in a daily drop to just over $ 60,000. However, the bulls regained control and failed to let things go below that desired level. By contrast, BTC has risen around $ 2,000 since then and is currently above $ 62,000.
Technical indicators showing the first resistance hurdles for bitcoin are $ 62,500, $ 63,766, and ATH at $ 65,000. Conversely, the asset can lean on previous ATH support levels of $ 61,780 and $ 60,000 in the event of another pullback.
Most altcoins mimicked the performance of Bitcoin yesterday with some sharp drops. However, similar to their leader, they are in good shape today. Ethereum fell over $ 150 yesterday but is up by more than 3% and is close to reaching the ATH level of $ 2,500.
Binance Coin, which experienced its 15th quarterly burn yesterday, fell below $ 530. However, BNB has gained more than 5% in value and is trading around the current $ 540 level.
XRP (1%), Cardano (2%), Polkadot (2%) and Uniswap (1.5%) are also green. Litecoin and Chainlink have increased by 13 and 6% to $ 323 and $ 43 respectively. Dogecoin continues with impressive performance and is trading above $ 0.3 right now. The popular meme hit a new all-time high of more than $ 0.4 yesterday.
Bitcoin Cash is the best large-cap coin over the past 24 hours with a strong 25% gain. As a result, BCH is back in the top 10 at $ 1,150. Additional increase comes from Siacoin (76%), Nano (70%), Ethereum Classic (50%), Verge (45%), Vechain (41%), DigiByte (35%), Neo (20%), Ankr ( 20%), Zilliqa (20%), etc.
Ultimately, the cumulative market cap of all crypto assets has recovered $ 100 billion since yesterday’s lows.
You can see the BTC price here.
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