BTC Dips To $37K While Uniswap Surged By More Than 10%

BTC Dips to $37K losing a few thousand dollars before recovering again while Uniswap surged by more than 10%. In our latest altcoin news today, we are taking a closer look at the price analysis.

After another rejection at $40,000, BTC slipped by $3000 to a four-day low at $37,000 and most other altcoins entered the red today. One exception however is Uniswap which surged by 10% and neared $10. last week was a roller-coaster ride for the financial markets and BTC represented a free market known for the volatility which was among the leaders in terms of enhanced price fluctuations. With Russia launching its special military operation in Ukraine, BTC dips to $37K and barely recovered.

The situation seemed gloomy but the US president and other Western leaders said that they won’t get involved directly in war with Russia as they had an immediate positive effect on the entire crypto market with BTC recovering all losses just as fast. Furthermore, BTC tried its hand at $40,000 on a few occasions but to no avail, and the last rejection that came over the weekend sent BTC south. This time, the asset dropped to $37,000 before bouncing off to the level of $38,500.

The altcoins experienced a similarly wild ride in the past week and recovered most losses but also charted new gains before they turned red again. Ethereum is among the biggest losers as a 4% decline on the daily scale pushed the coin to $2640 after failing to overcome $2800. Polkadot and Avalanche lost similar percentages in one day and Terra, Ripple, Doge, binance coin, CRO, and MATIC produced more minor daily drops while Cardano and Solana are in the green. Uniswap is the biggest gainer and it soared by more than 10% nearing $10 with the crypto market decreasing by $70 billion and standing a over $1.7 trillion now.

As reported a day ago, BTC faced down $40,000 with hopes for the weekly close hinging to avoid the fourth red monthly candle in a row with tensions mounting for TradFi markets open. The data from TradingView shows BTC/USD making a few attempts to break out the $30,000 and the $40,000 corridor all of which ended in rejection. The pair stayed higher over the weekend and cut traders some slack after a week of volatility at the hands of geopolitics and the media news. Now the $38,500 was the level to watch for BTC and close out the week but failing to do so means a fourth straight monthly red candle.