Market Update: ASTER and HYPE Propel Altcoin Recovery as Bitcoin Surges Past $100K
Crypto/Markets
 Trade Crypto on eToro

Market Update: ASTER and HYPE Propel Altcoin Recovery as Bitcoin Surges Past $100K

The cryptocurrency market sees a slight recovery following a dramatic drop, led by altcoins ASTER and HYPE, while Bitcoin bounces above the $100,000 mark.

Trade with eToro

Trade with eToro

Open an account

Trade on XM

Trade on XM

Open an account

The total cryptocurrency market cap saw a significant drop of $400 billion within just two days, followed by a modest recovery today.

Bitcoin Surpasses $100K

Bitcoin faced a sharp decline recently, falling below $100,000 before recovering slightly to just over $101,000. Analysts are now speculating whether a bear market has commenced after this drastic plunge.

Many altcoins experienced a similar downward trend, yet several, particularly ASTER and HYPE, have shown signs of a comeback, marking increases of 6-7% overnight. As of now, the total market capitalization has rebounded to $3.450 trillion.

BTCUSD Chart BTCUSD. Source: TradingView

Overview of Market Action

Ethereum (ETH), alongside others like XRP and LINK, has struggled, with ETH dropping from $3,900 to under $3,200 in recent days. Despite the rocky path, the dominance of Bitcoin over altcoins is now resting at 58.6%.

Next article

Ethereum Faces Selling Pressure But $5,000 Year-End Target Remains

Newsletter

Get the most talked about stories directly in your inbox

Every week we share the most relevant news in tech, culture, and entertainment. Join our community.

Your privacy is important to us. We promise not to send you spam!