Due to the significant drop in XRP since yesterday, it lost its 4th place.
Bitcoin hit a multi-week high of about $73,000 yesterday, but was rejected and fell more than two grand.
Most altcoins also erased most of yesterday’s gains, with ETH falling below $2,200. LINK and XLM fell by 5%, while RAIN rose by a similar percentage.
BTC rejected at $73,000
Bitcoin’s previous peak of over $72,000 came on March 25th, but the subsequent rejection was pretty painful. By the following Monday, the asset had already fallen to a monthly low of $65,000, but that trading week saw further fluctuations between $66,000 and $69,000.
The fluctuations subsided as the weekend approached, perhaps because it was Easter in most Western countries. Even President Trump’s new threats and comments about war failed to shake up Bitcoin significantly, with Bitcoin hovering around $67,000. BTC soared to just over $70,000 on Monday on reports that a ceasefire was near, but quickly lost momentum and fell to $68,000 on Tuesday as President Trump’s deadline approached.
However, the two countries did indeed announce a ceasefire on Tuesday morning, and BTC soared a few grand to $72,700. After a brief dip, it soared to $72,800 later in the day after the FT claimed that Iran was asking other countries to pay for passage through the Strait of Hormuz in Bitcoin.
BTC fell to $70,400 shortly after its new three-week high, but has recovered to just over $71,000 for now. Its market capitalization has declined to $1.42 trillion, but its control over alternatives has increased to 57% in CG.
Artz Retrace
Most altcoins mimicked BTC’s rise yesterday, but turned red today. Ethereum’s rally towards $2,300 was halted and is now below $2,200. XRP and BNB continue to compete for fourth place, but BNB has taken the lead due to a gradual decline in market capitalization.
LINK, ADA, SOL, DOGE, XLM, and WLFI fell further from the large-cap stocks, while RAIN rose more than 5% to $0.008.
The market capitalization of cryptocurrencies has fallen by about $50 billion from yesterday’s high, and in CG it has fallen to $2.5 trillion.
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