Bitcoin Retested $30K While Ripple Surges 6% On A Daily Scale

Bitcoin retested $30K while Ripple surges 6% on a daily scale and was among the biggest gainers from the larger-cap altcoins so let’s have a closer look at today’s latest Altcoin news.

Bitcoin retested $30K and Ether traded above $2000 while Ripple surges 6% on a daily scale which made it the biggest gainer among the larger-cap altcoins. After a few days below the $30,000 line, BTC jumped above it and challenged $31,000 earlier. Most of the altcoins are in the green today with XRP standing out as the biggest gainer. The crypto market hasn’t been in a bullish state for months but the situation got worse when BTC dumped by $15,000 at one point its lowest position since 2020 at $25,300.

The asset recovered some ground and surpassed $31,000 days later but this was also short-lived with the bears returning to the scene and driving it again so BTC spent the majority of the next few days below $30,000. it even dipped to $28,500 and followed the reprots about massive BTC quantities that were deposited to exchanges but the bulls stepped up at this point and reversed BTC’s trajectory. In a few hours, the asset surged beyond $30,000 and hit $31,000 but it fell there and now trades again at $30,000 with a market cap of $575 billion. The dominance over altcoins increased to 45%.

Ethereum suffered quite badly in the recent correction and went from $3000 to $1700 in a few days similar to BTC it managed to bounce off and reclaimed $2000 days later. It dropped below the coveted mark on Wednesday and remained there for the bigger part but now with a 4% increase, it managed to go higher above $2000. Binance coin is north of $300 as well after a smaller daily jump and similar increases were evident from Cardano, DOT, DOGE, Solana, Avalanche, Tron, and LTC.

Ripple gained the most from the altcoins with a 5.5% increase that pushed XRP to above $0.4 ATOM, TFUEL, and UNI is among the biggest gainers from the lower cap altcoins. The market cap neared $1.3 trillion after a $50 billion daily increase.

As recently reported, The BTC options data suggests there is a growing bearish sentiment among investors after BTC dropped to almost $24,000 in the past week and brought many systemic risks within the ecosystem like rising inflation fears.