Bitcoin is recovering from Thursday's collapse and trades close to $83,000. Most larger-cap altcoins stayed sluggish, while NEAR and Cardano's ADA posted notable gains.
Bitcoin sits close to $83,000 as its recovery from the Thursday collapse continues. The asset had marked a multi-week low before the rebound.
Bitcoin stalls below $83,400 after a near-$7,000 drop
The week opened well for BTC, which surged by a few grand on Monday morning to touch $87,000 for the first time since the previous Friday. The price was stopped at that resistance and dipped to $85,000.
A second attempt failed faster. Bitcoin slumped to under $84,000 on Tuesday, and the bulls lost complete control of the market on Thursday, according to CryptoPotato.
BTC then dipped to a multi-week low of $80,400. It rebounded after the near-$7,000 decline in just days and jumped to $83,400 yesterday, but was stopped there and now trades inches below $83,000.
Its market capitalization has pulled back to $1.660 trillion on CMC. Its dominance over the alts has skyrocketed to 59.5%.
NEAR rises over 10% while larger alts lag
Most larger-cap alts remained sluggish on a daily basis. ETH struggled below $2,500 and XRP barely defended the $1.40 support.
Ethereum slipped to $2,400 during the market-wide crash and has recovered to almost $2,500, still far from its local top at $2,800. XRP dipped to $1.34 before rebounding to $1.41.
In contrast, Cardano's ADA rebounded by 7% and reclaimed the $0.255 level. NEAR Protocol's native token rose the most among the larger-cap alts, rocketing by over 10% to $5.25.
The total crypto market cap shed $200 billion from top to bottom and has rebounded slightly to $2.8 trillion on CMC.
Source: CryptoPotato
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