Chainlink (LINK) Explodes 12% Daily, Bitcoin (BTC) Calms at $34K (Market Watch)
Bitcoin’s price was on a rollercoaster in the past few days, fueled by the excitement in regards to a possible spot ETF approval, but has calmed now at just over $34,000.
The altcoins are mostly in the green, with LINK and APT emerging as today’s top performers.
BTC Finally Calm at $34K
A lot can happen in the crypto markets in the span of just a few days. During the weekend, which was about four days ago, the primary cryptocurrency was fighting with the coveted $30,000 line. It saw minor success but couldn’t really conquer that level decisively.
It did so on Monday and jumped to several hundred dollars above it. Nevertheless, Tuesday morning saw the most notable price surge in a long time, as BTC skyrocketed by over four grand in hours to chart its highest price tag in a year and a half at $35,200.
This came amid new speculation about the potential approval of BlackRock’s spot Bitcoin ETF application and a certain ticker that was coming on and off.
Bitcoin finally calmed after this massive rally and has actually lost about $1,000 since then. Nevertheless, it still trades at above $34,000, following a 20% weekly surge.
Its dominance over the altcoins keeps increasing and is just over 53% now, while its market cap stands still at $666 billion.
LINK’s Rally Continues
The alternative coins followed BTC on the way up with notable price pumps yesterday. The landscape for Chainlink has become even more favorable over the past 24 hours. LINK has shot up by more than 12% on a daily scale and has tapped a new multi-month peak at over $11.
Aptos is the other impressive gainer from the larger-cap alts, being up by nearly 7% and trading at $6.5.
Ripple, Solana, Cardano, Polkadot, Litecoin, Shiba Inu, and Avalanche are also in the green, albeit in a more modest fashion. In contrast, ETH, BNB, DOGE, MATIC, and Toncoin have charted insignificant daily declines.
The total crypto market cap has remained strong at over $1,260 trillion after gaining $120 billion in a day yesterday.
Cryptocurrency Market Overview. Source: Quantify Crypto
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Filed under: Bitcoin - @ October 25, 2023 7:24 am