ETH Charts 2-Year Peak, BTC Calms After Rollercoaster Ride and New ATH (Market Watch)


A lot happened in the crypto markets in just a day, as Bitcoin surged once again, tapped a new all-time high, but was violently rejected, pushed down by ten grand, and is now trying to recover most losses.

The altcoins joined the wild ride, but some have marked impressive gains on a daily scale now, including ETH, which sits well above $3,800.

BTC’s 24H Rollercoaster

After the approval of spot Bitcoin ETFs and the hype surrounding the upcoming halving, the landscape around the primary cryptocurrency has been anything but dull. The asset had a big last week, ending February with its most significant monthly gains, but stalled slightly in the next few days.

That all started to change with the start of the current week as BTC broke out of the resistance level at $62,000 and began climbing. By Tuesday morning, the cryptocurrency was already standing close to $69,000, knocking on the door of the 2021 ATH.

It almost felt inevitable that this old record will fall and that indeed occurred yesterday. After more than two years, Bitcoin jumped to just over $69,000 and charted a new peak.

However, the bears intercepted the move at this point and pushed the asset south hard. In a matter of hours, BTC found itself dumping to under $59,500, thus losing around ten grand after its new ATH and leaving over a billion USD in liquidations.

Since then, BTC has managed to recover most losses and currently trades just shy of $67,000. Its market cap is still above $1.3 trillion, while its dominance over the alts is at 50% on CoinGecko.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

ETH Sees New 2-Year High

Most altcoins went on a similar ride as BTC in the past 24 hours. Now that the dust has settled, the majority of the larger caps are with daily losses. Polkadot, ICP, Shiba Inu, Bitcoin Cash, and Dogecoin lead the way with drops of up to 12% in the case of ICP.

In contrast, APT, UNI, and LEO have soared by double digits. As a result, APT trades at $14, UNI is above $15, and LEO sits close to $5.8.

Ethereum is also well in the green. The second-largest cryptocurrency is up by 4% and trades above $3,800 after charting a new two-year peak of $3,870 earlier today.

The total market cap went up and down by over $150 billion yesterday but now stands just over $2.6 trillion on CG.

Cryptocurrency Market Overview. Source: Quantify Crypto
Cryptocurrency Market Overview. Source: Quantify Crypto

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Cryptocurrency charts by TradingView.

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