ZEC is also on the attack today.
Bitcoin’s price has experienced some volatility over the past 24 hours, including a rejection at $116,000 and a recovery from the $110,000 support.
Many altcoins rose after yesterday’s correction, led by a huge rise in an AI-related altcoin – ChainOpera AI’s COAI.
BTC calms down at $113K
Although Uptober started off well with a rise to over $126,000 where BTC hit its latest all-time high, what followed was not widely expected. Consider the events that unfolded last Friday after US President Donald Trump issued a tariff warning against China. In the span of just a few hours, Bitcoin rose from over $122,000, where it had set the post-record, all the way to $101,000 on some exchanges.
This nosedive was imitated by most altcoins and became a real bloodbath for over-indebted traders. In fact, more than 1.6 million such market participants went bankrupt, while the total value of liquidations on a 24-hour scale exceeded $19 billion – the highest ever recorded.
Bitcoin immediately bounced Saturday morning, jumping past $110,000. The price continued to rise over the next few days, peaking at $116,000 on Tuesday morning. However, the bears quickly intercepted the move and pushed the cryptocurrency south to $110,000 later that day.
Nevertheless, BTC recovered again and is now around $113,000. The market cap has risen to $2.250 trillion on CG, while the dominance on the alts has fallen to less than 57%.
COAI on the rise
The biggest winner of the past 24 hours in the altcoin space is COAI. The asset has skyrocketed by triple digits (113% at the time of writing) and is trading at almost $16. ZEC, which stole the news in recent weeks, is on the rise again today. An 18% increase has taken the price above $260. ASTER follows (11%) and TAO (10%) is next.
Most larger-cap alts are also in the green, including up 4.7% against ETH, up 5% against SOL, and up 3% against DOGE, TRX, ADA, XLM, and BCH. HYPE is up more than 5.5%, while XMR has added 7.5% in value.
The total crypto market cap has recovered about $100 billion since yesterday’s low, rising to $3.960 trillion on CG.
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