RAIN Explodes 20% Daily, Bitcoin Remains Below $70,000: Market Watch

Besides RAIN, M and NEXO are the other notable winners, while HYPE has lost more than 5% of its value.

Most larger market cap altcoins have remained sluggish on a daily basis, aside from ZEC, which is up 5.5%, and HYPE, which is down more than 5%.

BTC stopped at $70,000

The primary cryptocurrency’s recent price movements raised many questions about the state of the market. The asset was at $90,000 on January 28, but fell sharply the following week. In fact, the high point, at least for now, occurred last Friday morning, when the stock fell to $60,000 for the first time in over a year.

This meant that BTC had lost $30,000 in less than 200 hours. After such a calamity, it was expected that there would be some kind of recovery, which happened immediately on Friday. In less than one trading day, the cryptocurrency rose by $12,000 and reached $72,000 on Saturday morning.

However, it couldn’t go any further and fell below $70,000, where it spent most of the weekend. It tried to initiate a new increase on Monday but was stopped a few times at $71,000 and $72,000. It has fallen slightly since that local peak and is now at $69,000.

The market cap has fallen to $1.380 trillion on CG, while dominance on alts stands firmly at 57%.

RAIN continues

Ethereum continues to fight to stay above $2,000 after a small daily decline. TRX is also down by a similar percentage. In contrast, XRP has risen above $1.40 after rising 3%. BNB, SOL, BCH and ADA are also in the green, led by ZEC’s impressive 6% rise to $242.

HYPE, on the other hand, is down 5.5% daily and is now struggling below $30. RAIN has taken the lead in daily gains, rising nearly 20% to well above $0.01. The other notable winners now are NEXO, ASTER and M.

The total crypto market cap has remained relatively stable since yesterday at just over $2.420 trillion on CG.