Bitcoin has settled at $64,000 after a few days of increased volatility. On a 24-hour scale, most alternative coins have likewise stayed unusually stagnant, with the apparent exception of Avalanche, which has gone on a tear and set a new ATH.
The Consolidation of Bitcoin Continues
The principal cryptocurrency had a good week last week, as it had rebounded from its $60,000 low and continued to set new highs. On Tuesday, it surpassed the October high of $67,000 for the first time, then did so again the next day, with the current ATH reaching $69,000.
It couldn't, however, proceed north. On the contrary, it plummeted by $6,000 in a single day, falling below $63,000.
The asset first rallied back and recaptured $65,000 before falling to a new weekly low of slightly over $62,000, as reported yesterday.
BTC has since recovered some ground, reaching $65,000 just a few hours ago. It did not, however, stay there, and another multi-hundred dollar retracement has brought it to little over $64,000.
Bitcoin's market valuation has surpassed $1.2 trillion once again, with Bitcoin still holding a 43 percent market share over altcoins.
AVAX New ATH Keeps Altcoins Calm
Since yesterday, the majority of altcoins have remained unchanged. Ethereum has dropped to little under $4,600, losing a small amount of its USD worth. Cardano and Ripple have also experienced price drops, and are currently trading at $2.03 and $1.18, respectively.
Binance Coin, on the other hand, has risen 2% to $640, Polkadot is at $46, while Shiba Inu has risen 2.3 percent to $0.000053.
Solana, Dogecoin, and Terra have all made significant gains of roughly 4% apiece. As a result, SOL is trading at $235, DOGE is trading at $0.27, and LUNA is trading at $0.01.
From the larger-cap alts, Avalanche has risen the most. The token has reached a new all-time high of $100, thanks to a gain of 11% from AVAX.
The double-digit price rise group also includes IoTeX (24 percent), KuCoin Token (13 percent), and Loopring (11 percent). Decentraland, LEO, and Mina, on the other hand, have all lost similar percentages in a single day.
The cryptocurrency market capitalization is likewise about $2.950 trillion, which is similar to yesterday's level.
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