BTC Taps 10-Day High As Dogecoin Surges 9%: Price Analysis

BTC taps 10-day high while Dogecoin surges 9% and both coins are seemingly doing well at the start of the week so let’s read more today in our latest Bitcoin news.

BTC taps 10-day high under $22,000 while most of the coins retraced a little in the same timeframe except for DOGE which is up by 9% on the day. After bottoming at $17,500, the main cryptocurrency started its recovery and then reclaimed the $20,000 line and dipped below a few times in the next few days but then stood north for longer periods.

The bulls tried to push it further upwards but BTC was stopped at $21,500 midweek another leg up came in the past 24 hours which saw a higher price tag. After staying calm for a week, BTC went on the offensive and reached $21,900 which became the highest price line that BTC saw a few weeks ago. However, it got rejected there and then retraced by $1500 in hours but now it managed to reclaim some ground and stands near $21,000. The market cap remained above $400 billion with the dominance of the altcoin sitting at 42.5%

Similar to Bitcoin, most altcoins remained calm during the weekend but the start of the week brought some good news for ETH as it broke the longest negative streak of 11 consecutive weekly candles being In the red. This happened after ETH recovered by $300 in the past week and surged to $1200. most altcoins are in the red and this includes Cardano, XRP, SOL, DOT, and Shiba Inu. TRON jumped by around 6% and neared $0.07 while DOGE stole the show from the bigger cap coins and it is up by 9% so now DOGE stands at $0.08. The crypto market cap also remained calm on the daily scale at over $950 billion.

As recently reported, BTC hovers near $21K and traded at $20,441 but over the weekend, the crypto crashed to $17,601 and faced strong selling pressure. Altcoins continued to outperform BTC with aXS and MATIC among the biggest gainers and increased by more than 16% and 13% respectively. Simon Peters, a market analyst at eToro, said that the increased risk of recession and the poor corporate earning scan affect stock prices which have correlated recently with crypto prices.