By Leah Hutton (Luxembourg)
While the leading digital asset hit $38.5K, a six-day high, Ethereum continues to lose against Bitcoin. Ether remains 15% down in 2 days compared to BTC.
BTC continues to recover its recent losses, to a six-day record high at $38.5K before resting. Although Bitcoin’s market dominance surged to 44%, most alternative coins failed to gain.
BTC on A Six-Day High
After drastic declines on Tuesday that sent the primary digital coin to $31K, Bitcoin started gaining its value gradually. On Wednesday, BTC spiked by about $3,000, added more on Thursday, and surged high in the last 24 hours.
For that reason, Bitcoin rose to $38.5K some hours ago, resulting in the highest price by the leading crypto since 6 June. The upward move came amid announcements that India could change its views on the crypto market, classifying Bitcoin as an asset class category.
However, as with the previous breakout session, bears came in to control the market. BTC declined with some dollars, trading under $36K. Meanwhile, the situation reversed, and BTC stands above $37K at the moment.
Also read:With that move, the crypto market capitalization is some billions away from $700 billion. Moreover, BTC has its market dominance back to 44%, as most altcoins retraced or stalled over the past day.
Altcoins Gone Red
As stated earlier, most altcoins lost value over the last 24 hours. Ethereum is currently under $25.5K, a 4% decline from its spike over $2.6K yesterday. Furthermore, Ethereum lost a significant value against the leading crypto after dipping by around 15% over the past few days.
BNB, on the other hand, went high, touching $380. However, Binance Coin dipped by 3% to settle just above $350. Other altcoins with similar situations include Cardano, Ripple, Cardano, Bitcoin Cash, Uniswap, and Polkadot.
ADA declined to $1.5, a 4% drop, DOGE struggling at $0.32 (-3.5%), XRP is beneath $0.9 (-2.5%), DOT under $23 (-5%), UNI at 423 (-6%), BCH over $600 (-2%).
Also, the lesser-known alternative coins suffered on the last day. ICP is the main loser, declining by 15%. Others that followed include Curve DAO Token (-10%), Fantom (-10%), Solana (-10%), UMA (-12%), THORChain (-13%), Theta Fuel (-14%), and Synthetix (-14%).
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