In the last 24 hours, the Bitcoin price attempted a shot at $31K and maintained its dominance over the rest of the market.
It's worth noting that some altcoins performed incredibly well, posting gains close to 30%. let's dive in
Bitcoin Price Hits $31K
As crypto potato reported yesterday the price of Bitcoin skyrocketed to $31K, triggering a wave of liquidations totaling over $100 million.
It's worth noting that Bitcoin's dominance, the metric that tracks its share relative to that of the rest of the market, has also increased. This means that the main cryptocurrency has performed much better compared to altcoins.
Unfortunately for the bulls, they were unable to hold the price above $31K. The sellers stepped in and pushed it below this level to where it is currently trading around $31,600.
Bitcoin Cash (BCH) Leads Altcoin Momentum
Bitcoin Cash (BCH) is the best performer today by far. The cryptocurrency is up 30% in the last 24 hours alone, adding to its total gains of more than 70% for the week.
A close second is Bitcoin SV (BSV), which is up more than 21% on the day and more than 44% on the week. Ethereum Classic (ETC) is right behind them with 11.4% daily gains.
As seen in the heat map, most of the market is trading well in the green. Litecoin (LTC) rose a total of 5.4%, followed by Polkadot (DOT) and Solana (SOL).
Maker (MKR) is the worst performer today, down around 4.6%. SUI, Optimism (OP), Conflux (CFX) and Injective (INJ) are also down 3% each.
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