ENA is the other big gainer over the 24 hours, followed by ADA.
Bitcoin’s price dipped to another multi-week low at just over $62,000 on Saturday evening but rebounded to $63,500 on Sunday morning after US President Donald Trump said he had canceled the planned attacks against Iran.
Most larger-cap alts have turned green with minor increases, led by Cardano’s native token, which has jumped by 9%.
BTC Returns to Over $63K
The business week began on a more positive note after last weekend’s de-escalation in the Middle East. Bitcoin had remained above $64,000, and then it tapped $65,600 on a couple of occasions on Monday. However, it couldn’t continue upward, and uncertainty ahead of the FOMC meeting led investors to de-risk by offloading BTC, which resulted in a massive drop to $62,800.
Volatility remained high before and after the event, with the asset going up and down between $63,000 and $65,000. It rocketed to just over the upper boundary on Friday morning, where it was rejected once again.
The subsequent leg down was even more painful as bitcoin dipped to $62,400 for the first time in over two weeks. It managed to rebound to $63,000 on Saturday before it dropped once again to $62,100 (on most exchanges). The situation improved on Sunday morning after US President Trump canceled planned attacks against Iran, and BTC jumped to $63,500.
Its market cap has reclaimed $1.270 trillion, while its dominance over the alts remains below 57% on CG.
ADA Soars
Most larger-cap alts have turned green in the past day. XRP has defended the $1.05 support, which has been described as a major support level by analysts that can propel the next rally. SOL is up by 1%, and so is HYPE. ETH, TRX, DOGE, RAIN, and ZEC have marked minor increases.
Cardano’s native token has become today’s top performer, surging by 9% to $0.185. XLM, DOT, AVAX, NEAR, PEPE, and WLD have marked gains of up to 4%.
The total crypto market cap is up by $40 billion since yesterday’s low and is up to $2.250 trillion on CG.
LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!
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.