Cardano Explodes by Double Digits, Bitcoin Taps $98K (Market Watch)

7 hours ago 4

Bitcoin’s price has shown some more positive movements over the past several hours as the asset jumped above $98,000, but it is struggling to maintain that level now.

In contrast, many altcoins have posted impressive price gains within the same period, with ADA leading the pack following a 15% surge.

BTC Taps $98K

After the massive volatility experienced at the start of the previous week, which took bitcoin from over $102,000 to under $92,000, back to $102,000, and down to $96,000, the cryptocurrency has calmed and has remained within a tight range.

It saw another attempt to overcome the $100,000 mark on Friday but was quickly halted in its tracks. The subsequent rejection pushed it south to $96,000, where it spent most of the weekend.

Monday began with a price slip to $95,000, but the bulls managed to defend that level. BTC bounced off and headed toward $98,000 but failed to breach it. It jumped to just over it earlier today but doesn’t seem capable of retaining that level as of now.

Its market capitalization has risen to $1.945 trillion on CG, while its dominance over the alts has taken a big hit. The metric is down below 58% after peaking at 58.7% yesterday.

ADA on the Run

The positive news regarding potential approvals of ETFs has impacted numerous altcoins lately. Litecoin continues to gain traction after yesterday’s surge and is now up by another 10%, which has pushed it to almost $130.

Today’s star, though, is Cardano, as its native token has soared by 15% and sits at $0.8 after Grayscale’s ETF filing. SUI has also surged by double-digits since yesterday and now trades above $3.5.

The other notable gainers from the larger-cap alts include BNB, DOGE, AVAX, and XLM. PEPE has added 9% of value and is above $0.00001.

The total crypto market cap has increased by $60 billion overnight and is north of $3.360 trillion on CG.