Bitcoin’s price increases continued in the early hours of the Asian trading session, and the asset neared $49,000 for the first time since the ETF approvals a month ago but was stopped there.
Most altcoins have also turned red following days of price increases, and the total market cap has retraced by about $30 billion since the peak early this morning.Bitcoin started last week at a highly stagnant point, with its price trading sideways at $43,000 for several consecutive days. This trend finally started to break on Wednesday evening and on Thursday especially.
The bulls stepped up on the gas at that point as BTC neared $45,000 and kept climbing on Friday. This time, the cryptocurrencyAfter a minor retracement on Saturday morning, Bitcoin began another leg-up that resulted in tapping $48,500 on Sunday. As mentioned above, the asset jumpedThis is all you need not to miss any price action in the raging crypto markets. Start receiving this recap, for free, every day:As the community was expecting a crack at $49,000, the landscape changed.
Further losses come from the likes of SOL, XRP, ADA, AVAX, DOGE, DOT, and MATIC – all of which are down by 3-5%. The landscape is different on a weekly scale, though. DYM, BEAM, KAS, and IMX lead the way with double-digit gains of up to 72% in the case of DYM.Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.