An overview of the cryptocurrency market Wednesday, February 24
After another volatile day, BTC was able to recover some of its lost value today and trade at $ 50,000. Most alternative coins have also breathed a sigh of relief, and the value of the cryptocurrency market has risen by more than $ 130 billion.
Bitcoin once again touched $ 50,000
It can be said with confidence that BTC is having better days than in the last 96 hours. The cryptocurrency recently set a new record at $ 58,400, but the bears did not allow the price to rise further, pushing Bitcoin to more than $ 13,000, hitting $ 45,000.
Yesterday, the market's top cryptocurrency was initially close to $ 50,000, but adverse price movements pushed the asset back to $ 47,000.
Since then, BTC has improved somewhat. The price of Bitcoin even reached $ 51,500, but is now trading at around $ 50,400 with a slight decrease.
If Bitcoin can successfully overcome the resistance of $ 50,000, then it will face significant resistance at $ 51,500 and $ 52,000. If the price falls again, levels of $ 48,000, $ 47,000 and $ 44,750 could help the currency.
Altcoins trying to recover the price
In the latest market corrections, most replacement coins fell even more than BTC. Atrium fell below $ 1,400 from its $ 2040 record. However, ETH did not fall below its record price floor and is now trading at around $ 1650.
Binance Coin The Binance Coin also fell sharply to around $ 200 but has since risen to $ 270. Polkadat (1.5%) and China Link (2%) have also turned green in the last 24 hours.
In contrast, Ripple (-7%), Light Coin (5%) and Bitcoin Cash (-5%) are still losing value.
Stacks (31%), THORChain (25%), Phantom (25%), UNUS SED LEO (22%), Solana (-17%), Compound (15%), Terra (12%), THETA (11%) And Aave (10%) are among the less valuable market currencies that have seen significant growth today.
As a result, the cumulative capital of the cryptocurrency market also returned somewhat from yesterday's low, rising $ 130 billion to $ 1.51 trillion.