Bitcoin endured a volatile weekend in which it made a fresh 13-month high before slipping below $30,000 but managed to defend that level.
Altcoins are quieter on a daily basis apart from SOL, AVAX, LEO, ARB and a few others that have added some value.
BTC defends $30,000
The past weekend has been fairly uneventful, although BTC experienced a rollercoaster ride that took it from $31,000 to $29,500 and back to $30,500 in a matter of hours on Friday. However, Saturday and Sunday were quiet, with BTC remaining just above $30,000.
The situation only changed early Tuesday morning and BTC rose above $31,000 again. It was rejected there, but on Thursday the bulls went on the offensive again and this time they managed to push Bitcoin to $31,500 (on Bitstamp) for the first time in 13 months.
There, however, the asset failed again, plunging to $29,700 by Friday morning. Still, he rallied and recaptured the coveted $30,000 in the hours that followed and has stayed just above that line ever since.
Its market cap still stands at $585 billion and its dominance over the alternative coins is close to 50%.
BTCUSD. Source: TradingView
SOL, AVAX on the rise
Altcoins have also seen increased volatility over the past few days, but most have settled down over the course of the day. Ethereum had at times approached $2,000 but was sharply rejected yesterday and is currently around $150 away from that level.
Binance Coin, Ripple, Cardano, Dogecoin, Litecoin, Tron, Polkadot, and Polygon are slightly in the green against the larger-cap altcoins.
Avalanche and Solana stole the show with gains of 7.5% and 13%, respectively. As a result, AVAX is above $13 while SOL is above $22.
Overall, the cumulative market cap of all crypto assets has managed to recover just over $10 billion in one day and stands at over $1.8 trillion. Keep in mind that the metric was down $50 billion just yesterday.
Overview of the cryptocurrency market. Source: Quantify Crypto
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