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BTC’s Recovery Begins After a 10-Day Low, ICP Steals the Show With 10% Surge (Market Watch)

BTC's Recovery Begins After a 10-Day Low, ICP Steals the Show With 10% Surge (Market Watch)

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Bitcoin’s price took another turn for the worse earlier this morning when the asset plummeted to $64,500 for the first time in ten days, but it reacted well to this decline.

The altcoins are in no better shape, with ETH sliding to $3,300 while XRP stands below $0.6.

BTC Begins its Recovery?

Bitcoin went as high as $71,800 last week on a few occasions but was stopped in its tracks before having the chance to break its all-time high of $73,800. After a few retracements, the cryptocurrency calmed at around $70,000 during the weekend.

Another leg up came on Sunday evening but was halted as well at $71,200. The subsequent rejection pushed BTC south hard and it fell to $66,000 yesterday. Another decline came earlier today when BTC dropped to a ten-day low of $64,500 despite the massive outflows from Coinbase.

Nevertheless, the bulls managed to intervene at this point and stopped the freefall. Bitcoin has recovered almost two grand since its intra-day low and now stands above $66,000.

Its market capitalization remains just inches above $1.3 trillion, while its dominance over the alts is at 49.6% on CoinGecko.

BTCUSD. Source: TradingView

ICP Steals the Show

The altcoin space has been hit by the recent pullbacks as well. Ethereum dropped by around 2% in the past 24 hours once more and now sits at around $3,300. Ripple is down by a similar percentage and sits beneath $0.6.

Cardano, Dogecoin, Toncoin, Bitcoin Cash, Avalanche, and Polkadot are also slightly in the red. UNI has declined by more than 3.5%.

In contrast, SOL is up by 3.5% and sits close to $190. NEAR and WIF have gained 6% each, while ICP has soared by almost 10%. As a result, ICP now trades above $18.

The total crypto market cap has recovered more than $50 billion since the overnight low and is now at over $2.6 trillion on CG.

Cryptocurrency Market Overview. Source: QuantifyCrypto
Cryptocurrency Market Overview. Source: QuantifyCrypto
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Cryptocurrency charts by TradingView.

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