Bitcoin Reclaimed $58K While Avalanche Tapped New High

Bitcoin reclaimed $58K price range while Avalanche reached a new all-time high as we can see from the data in our latest altcoin news today.

Following a few days of price drops, Bitcoin reclaimed $58K price range finally and added another $2000 of value with most other altcoins also being in the green and Shiba Inu adding double-digit percentages, as well as Avalanche, hitting a new high. The past few days didn’t go well for the main cryptocurrency and right after tapping $69,000 for the latest price peak, the asset tumbled and lost $9000 in a few days. This eventually culminated in a drop to $60,000 where BTC stood a while but the bears stepped up and pushed it south.

This time, the crypto dropped below $56,000 for the first time in a month and it had lost about 20% of the value in about a week. The on-chain data analysis shows that the long-term holders refused to panic sell their holdings and continued with the accumulation. Since the bottom, BTC bounced off and added another $3000 so as a result, it now trades well above $58,000 with a market cap of $1.1 trillion. The alternative coin suffered badly but are all in the green now. ETH dipped below $4000 but then saw a 5.5% increase on a daily scale which drove it back to $4300.

Binance Coin also dropped below $550 but then surged above $580 after a 6.5% increase in one day as Solana surged by 8.5% since a day ago as it now stands north of $210. Shiba Inu and Avalanche gained some double-digit percentages. SHIB is up by 13% and got to $0.00005 while AVAX surged by 16% and got closer to $120 but this means that the AVAX coin tapped a new high as well. Some more gains were evident from Ripple, Polkadot, Dogecoin, Cardano, and Terra as the bigger cap altcoins. The situation with the low-cap and mid-cap altcoins is even better as Immutable X is the biggest gainer with a 43% surge on a daily scale. Zcash increased by 20%, Enjin coin by 25%, Fantom by 16%, Helium by 13%, and Elrond by 10%. As such, the market cap added about $100 billion in one day and it is well above $2.7 trillion on Coingecko.