Bitcoin Stands Still Around $48K While LUNA Soars To New ATH

Bitcoin stands still around $48K while Terra’s LUNA initiated another huge increase that resulted in the coin tapping a new all-time high so let’s take a closer look at our latest Bitcoin news today.

After a few days of making gains, BTC calmed down a bit around the $48K price point and some other alternative coins kept increasing. Solana surged 8% and Terra also increased to a new all-time high after a 20% daily increase. The rest of the alternative coins were on a roll over the past few days after the mid-week price drops and ETH even dipped to $2900 thanks to the Chinese FUD. ETH has Reclaimed more than $500 since then and now stands at the $3400 price point.

Cardano fell hard as well and broke below $2 but now ADA stands nearly at $2.3 with Binance Coin reclaiming $430 after a 4% daily increase. Minor gains were seen from Ripple, Dogecoin, Uniswap, and Polkadot. Solana resumed the bull run lately with an 8% surge to above $170 but TErra is still the biggest gainer from the larger cap altcoins with a huge 20% jump. Terra’s LUNA marked a new ATH a few hours ago and now stands at $45. While Bitcoin stands still around $48K, more gains came from the OMG Network as it increased 36%, Qtum that increased 16%, ICON that increased 16%, Serum 11%, IOTA 10% Tezos 15%. the crypto market cap neared $2150 trillion and this metric is up by more than $300 billion since Friday’s low.

The main cryptocurrency led the recovery session and its price dropped below $41,000 for the third time in one week when the entire situation changed upon promising some news from the US. The Fed Chair Jerome Powell said that the world’s biggest country by GDP has no interest in following China’s ideas of regulating crypto and banning digital assets. Bitcoin then started climbing right after and reclaimed $43,000 on the same day while it kept charting new weekly highs above $45,000 and $47,000. It managed to push above $48,000 just a few hours ago and now stands on the level where it was initially rejected from and dipped back to $47,000. Though it bounced off and now stands around $48,000, the market cap is just over $900 billion.