Tezos (XTZ) Spikes 9% after Bitcoin Dipped Towards $20K: Market Watch


With a daily growth of 9%, Tezos is one of the few crypto assets that are in the black. Currently, Bitcoin is little under $21,000.

After spending a few days ascending, bitcoin’s direction yesterday changed and it plummeted around $20,000. The majority of altcoins are currently down, with SOL, DOGE, SHIB, AVAX, and other coins showing daily losses. On the other hand, Tezos has resisted the sentiment of the market.

Bitcoin held steady at $20k

The previous week was better for bitcoin as it gained almost $4,000 after the mid-month bloodbath, which saw it plunge by over $12,000 to an 18-month low of $17,500 last Sunday.

The following weekend saw BTC holding steady at roughly $21,000 while being comparatively tranquil. In fact, it even rose to a ten-day high of slightly over $21,800 before ceasing at that point.

The cryptocurrency subsequently proceeded to lose value over the next few hours, eventually falling below $21,000. The daily low was around $20,500, but the neighborhood’s worries that it would fall to $20,000 were unfounded.

Bitcoin, on the other hand, reversed course and is now hovering around $21,000. However, its market valuation has dropped below $400 billion and its dominance over the alternatives is stable at 42.5%.