Crypto Market Recovers $76B – BTC Hit $34K, Altcoins Rally
BTC’s recovery to the $34,800 mark saw alternative coins rallying, boosting the overall crypto market cap by nearly $76 billion.
After wild fluctuations over the last few days, on 23RD June, crypto investors seem relieved from the bearish sentiments surrounding the market. Keep in mind that that comes after BTC recovered slightly to $34,880, triggering an alternative coins rally.
The current market conditions had some market players predicting market recovery. However, that is not without certain conditions.
According to CoinMarketCap reports, the overall crypto market cap saw its value losing around $230 billion in the trading session ranging from 20th to 22nd June. However, it managed to recover around $76 billion on 23rd June, having its market cap at $1.365 trillion. Keep in mind that some investors see the price correction as an opportunity to buy the dip.
BTC’s market cap has recovered yesterday’s losses that saw the coin falling by $68 billion. At the moment, Bitcoin’s market cap sits at $630 billion, higher than the previous day’s flash crash.
Alts Surges with Double-Digits
According to Cointelegraph Market Pros data, altcoins traded in the green zone after BTC bounced off its lows.
According to data from market analysts, Cybervein (CVT0 is the top gainer after accumulating over 112% at some time. However, the altcoin dropped to $0.0187, indicating a 62% price gain since June 22.
ANKR is the second on the list after rallying 72% to $0.082 from $0.047.
According to Cointelegraph Markets Pro, ANKR has favorable market conditions after its June 22 pullback.
The VORTECS Score is a programmed current and historic market comparison from combining various data segments, including trading volume, Twitter activity, recent price changes, and market sentiment.
According to Cointelegraph data, ANKR VORTECS Score maintained in the green zone before early June, reaching its 71 high on 21st June for about ten hours. The prices recovered afterward, increasing by 72%.
Also, Dogecoin, the favorite meme coin, gained 20%.
What do you think about the crypto market’s near-term moves? Feel free to give your opinions regarding the current market.
Stay tuned for more cryptocurrency updates.
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