As the dust starts to settle following the massive correction at the end of the business week, BTC is trying to recover some ground and stands above $96,000 for most of the weekend.
Most larger-cap alts are slightly in the green today, with ETH pumping above $3,200. ZEC continues with its impressive performance, and is joined by DASH and ASTER today.
BTC Consolidates at $96K
The business week actually started on the right foot for BTC as the asset jumped past $106,000 on Monday and $107,000 briefly on Tuesday following positive news from the US. However, that was another fakeout, and the cryptocurrency’s price began a prolonged and painful retracement.
At first, it dropped back down to $102,000, where the bulls managed to intercept the move, but that rebound didn’t last long. The actual calamity took place on Thursday and especially on Friday when the bears took complete control of the market.
As a result, they initiated a few consecutive leg downs that culminated on Friday afternoon with a price dump to a six-month low of $94,000. The freefall finally stopped at this point, and bitcoin bounced off to $96,000, where it has been for almost two days.
Its market cap has recovered slightly to $1.920 trillion, while its dominance over the alts has taken another hit and is down to 57.1% on CG.
ZEC Keeps Pumping
The largest privacy coin seems immune to the overall market-wide correction and has surged past $700 following another double-digit increase on a daily scale. Aside from ZEC, another alt from this cohort (DASH) has skyrocketed by roughly 16% daily and has reentered the top 100 assets by market cap. ASTER is the other double-digit gainer from the larger caps, having surged by 12% to $1.26.
UNI and WLFI follow suit, with price increases of 7% and 6%, respectively. ETH, BNB, SOL, TRX, DOGE, HYPE, BCH, and LINK are also in the green.
The total crypto market cap has risen by $60 billion in a few days and is up to $3.370 trillion.
