Bitcoin Eyes $44K While NEAR Surges 24% Overnight: Analysis

Bitcoin eyes $44K while NEAR surges 24% overnight and the market is finally in the green today so let’s read more in our latest Bitcoin news.

NEAR protocol led the way with a 24% surge to $20 while Bitcoin eyes $44K. after a few days of freefall and hitting a 2-week low, BTC bounced off and reached $44,000 with the rest of the altcoins all being in the green today. However, NEAR protocol stole the show with a 24% massive surge. The recent Bitcoin price movement was mainly going south and the asset spiked above $47,000 on multiple occasions before the bears took control over the market. One day later, BTC found itself dipping below $45,000 but the situation worsened. This time, BTC dumped by another two thousand to a bottom of $42,800 which became the lowest point since March 24.

The cryptocurrency bounced off at that point and started gaining traction once again. As of now, it stands close to $44,000 which means that it added another $1000 in the past day. The market cap slipped below 0 billion while the metric was 0 billion until a week ago.
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The altcoins suffered over the past few days but today they are in the green. Ethereum jumped to $3200 in a few days and charted a new high above $3500. The new 2% daily increase pushed the crypto to $3300.

Solana, Ripple BNB, Cardano, DOT, DOGE, and SHIB all produced minor daily increases and Avalanche is up by 4.5% after $200 million token swaps with terra and the LUNA token is down however by a similar percentage on a daily scale. NEAR Protocol has seen the biggest surge with a massive 24% jump while the coin reaches close to $20 to a new ATH of $20,44. the market cap is down by $150 billion over the past three days and sits at over $2 trillion.

As recently reported, Bitcoin is getting a boost thanks to the new Taproot-enabled protocol dubbed Taproot Asset Representation Overlay, TARO, which is an open-source protocol powered by the Lightning Network. The co-founder of Lightning Labs Elizabeth Stark announced that Taro aims to bring assets like stable coins to the Bitcoin blockchain. In addition to Taro, the LN also announced that it raised $70 million in funding that was led by Valor Equity Partners and Baillie Gifford.