Bitcoin Maintains $30K, Terra’s UST Continues Crashing and Dips to $0.04 (Market Watch)


Following yesterday’s drop to $29,000, bitcoin reacted well and reclaimed the coveted $30,000 line. Most altcoins are sitting calm with minor gains, while Litecoin and CRO have emerged as today’s top gainers from the larger caps.

Bitcoin Stands Above $30K

Last week’s rollercoaster, which led to BTC creating history with its seven consecutive weekly candle closed in the red, resulted in massive disruptions for the asset as it fell to an 18-month low of $25,300 (on Bitstamp).

Bitcoin bounced off at that point and jumped to and beyond $30,000, where it stood during the weekend as well. It lost some tractions yesterday as it dipped below that coveted line and went to a low of $29,000.

However, the bulls stepped up at this point and didn’t allow any further price dives. Just the opposite, they pushed BTC north, and the cryptocurrency reclaimed $30,000. As of now, it even sits close to $31,000.

Consequently, BTC’s market capitalization has increased to $580 billion, while its dominance over the altcoins stands still around 44.5%.

BTCUSD. Source: TradingView

LTC and CRO Lead the Way

The altcoins, which went through similar enhanced price fluctuations in the past ten days, have remained relatively calm on a 24-hour scale.

Ethereum dumped from $3,000 to $1,700 in days before it reclaimed $2,000 and has maintained that level ever since. Moreover, the second-largest crypto is close to $2,100 as of writing these lines.

BNB now stands well above $300 after dumping to $230 days ago. Ripple, Cardano, Polkadot, Dogecoin, Avalanche, TRON, and Shiba Inu are also slightly in the green.

Litecoin and Cronos have gained the most from the larger-cap alts by similar increases of around 6%.

Terra’s deteriorating algorithmic stablecoin, which was supposed to be pegged 1:1 with the USD, continues to crumble as it plummeted to $0.04 earlier today.

The crypto market cap is up by around $40 billion in a day and stands above $1.3 trillion.

Cryptocurrency Market Overview. Source: Quantify Crypto
Cryptocurrency Market Overview. Source: Quantify Crypto

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Cryptocurrency charts by TradingView.

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