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The desired $20,000 level has been maintained for bitcoin despite the recent turbulence. The majority of alternative currencies are also marginally up today, with ETH surging into a near 10-day high of $1,200.
Bitcoin Retains Its $20K Level
Last week’s conclusion was marked by extreme volatility, with bitcoin surging more than $2,000 in only a few minutes to just under $21,000. That, however, proved to be a phony breakthrough as the cryptocurrency swiftly retraced.
After experiencing such heightened price volatility, the asset stabilized at roughly $19,000 throughout the course of the next weekend. Additionally, since Monday was the US national holiday of July 4, there was no market movement.
On Tuesday, BTC surged to and over $20,000 before going through another roller-coaster in which it fell to $19,250 and then soared back up to $20,600.
Bitcoin rose back above that barrier after a further drop to levels below $20K, and it is still there as of right now. As a result, its market valuation is very near to $400 billion, and its market share over other coins is a solid 42.4%.
The local peak of ETH
Although most cryptocurrencies have recently seen comparable price swings, they are currently marginally in the black on a daily basis.
With a 3 percent gain from yesterday, Ethereum is strong. Additionally, the second-largest asset just increased to slightly over $1,200, reaching a 9-day high. But as of right now, ETH is trading barely below that mark.
There have been negligible daily improvements for BNB, Ripple, Cardano, Solana, Dogecoin, Polkadot, Shiba Inu, and Avalanche. On the other side, TRON is barely in the red.
On a daily basis, the majority of lower- and mid-cap altcoins are similarly rather quiet. Because of this, the market capitalization of all crypto assets as a whole is stable at little over $900 billion.
Business News
Sam Bankman-Fried, the CEO of FTX, said that his organization still had “a few billion” available to help struggling crypto companies.
Boring, one of Elon Musk’s businesses, will begin taking Dogecoin (DOGE) for a variety of transactions.
The US and South Korean governments announced that they will begin exchanging data after the collapse of the Terra environment.
Only the second instance of Ethereum’s public testnet, Sepolia, has adopted the Merge update.
By shorting LUNA in May, Uprise Investment Fund acknowledged that it had lost more than $20 million in both client and own money.
