BTC Rebounds after the $33k Weekend Dip, Cardano Uptick 20%
Bitcoin weekend volatility continued with a drastic $33,500 drop. However, the preeminent digital asset by market cap staged a rebound by some dollars. On the other markets, Cardano uptick 20%, while most altcoins remain in the red zone.
Keep in mind that Bitcoin has been with wild movements in the past seven days continuously. Although with another volatile day where bears had the initial control, BTC has rebounded around $3,000. Most cryptocurrencies had drastic declines as the total market capitalizations lost around $200 billion at a given point.
Similar to last weekend, the ongoing one does not disappoint when it comes to price changes and market volatility.
BTC Recovers from another Dip
However, not at what enthusiasts expect, BTC has better days for now. The leading crypto has been struggling to overcome the $40,000 mark over the past few days. However, things did not go well as the goal remains unaccomplished.
The worst of all was that each attempt to recover met rejection that kept the prices low. For instance, the previous one on May 27 sent BTC nosediving to $35,000 in a matter of hours.
Regardless of the staged recoveries, the past days have had challenging moments for Bitcoin. BTC traded $37,000 at some point, however, bears gained control, driving the coin’s value south again.
With that, Bitcoin had massive losses, dropping below $33, 500. That was according to Bitstamp’s data. Fortunately, bulls came in to push the coin’s value up. For now, BTC has regained over $2,000, sitting at nearly $36,000.
Remember, analysts predicted such increased volatility in the BTC’s markets over the last day. For instance, CryptoPotato announced BTC derivatives skyrocketing to the highest levels since the May decline, indicating a possibility of upcoming wild fluctuations.
Altcoins Plunged Too: ETH Traded Below $2200
Altcoins followed BTC’s movements over the past day. For instance, Ethereum plunged by over $300 at some point, to $2,200 from $2,500 on given exchanges like Binance. However, Ethereum bounced since, trading above $2,400 at the moment.
BNC dipped under the $300 zone, but recovered to $330. Other Altcoins in red include, BCH (-1%), UNI (- 5%), ICP (-4.5%), DOT (-3.5%), DOGE (-2%), and XRP (-2%).
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