JUP and HYPE are among the top performers of the past 24 hours, with double digits.
Many altcoins fell hard yesterday, but followed BTC on its way up, with ETH trading near $2,000 and XRP taking back the fourth spot in terms of market capitalization from BNB.
BTC down and up
Last business week started on a decline, with bitcoin falling from $68,000 to just over $64,000 following the most recent rate developments. It fell further to a multi-week low of $62,500 on Tuesday before bouncing back hard on Wednesday to touch $70,000 for the first time in about eight days.
However, this rally seemed doomed, at least according to many analysts, and BTC indeed started losing value almost immediately. The cryptocurrency dropped by a few thousand but remained sideways around $68,000 for the next few days. Saturday started with a bang (literally for several Middle Eastern countries) as the US and Israel first attacked Iran, which retaliated against Saudi Arabia, the UAE, Bahrain and Qatar.
BTC fell from $67,000 to $63,000 within hours of the initial attacks. However, it rebounded sharply later in the day to over $68,000 after reports that Iran’s Supreme Leader was killed in the attacks. However, it was stopped there and is now trading below $67,000.
The market cap has returned to $1.335 trillion, while alt dominance is inches above 56%.
Restore alts
Most altcoins responded well to yesterday’s disaster. Ethereum is back to $2,000 after rising 7.5% on a 24-hour scale. BNB is at $622, but XRP has reclaimed the fourth spot in terms of market capitalization after rising 8% to almost $1.40.
SOL, DOGE, ADA and LINK are up 7-9%, while HYPE stole the show from the larger caps with a 15% increase to $31. JUP, NEAR and PUMP are the other double-digit daily gainers.
The total crypto market cap has recovered about $100 billion in one day and is almost $2.4 trillion on CG.
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