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You are at:Home»Crypto»Bitcoin Price Struggles at $21K, EOS Soars 20% (Market Watch)
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Bitcoin Price Struggles at $21K, EOS Soars 20% (Market Watch)

By August 23, 2022No Comments3 Mins Read
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Bitcoin continues to consolidate around the $21,000 mark after dipping below that level on multiple occasions yesterday.

Most altcoins are well in the green on a daily scale, with EOS emerging as the most impressive gainer following a double-digit price surge.

Bitcoin at $21K

The primary cryptocurrency fell hard last week, dumping from a multi-month high of over $25,200 to a multi-week low of under $21,000. This all happened in less than seven days.

As such, when the weekend arrived, the asset had calmed and traded mostly in a range between $21,000 and $22,000. The start of the current week also lacked any firecrackers. Yesterday saw a few price dips below $21,000 but BTC managed to recover those losses rather immediately.

As of now, the cryptocurrency has jumped to above $21,000 and stands $500 north of it. Consequently, its market cap has managed to defend the $400 billion level. Its dominance over the altcoins has also taken a breather and sits just over 40%.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

EOS Steals the Show

The alternative coins retraced slightly yesterday, but most have turned green today.

Ethereum had lost over $500 at one point after last weekend’s surge above $2,050. Now, though, the second-largest crypto trades confidently above $1,600 after a 5.5% daily increase.

Binance Coin is just inches away from tapping $300 again following a minor price jump. Ripple, Cardano, Solana, Dogecoin, Shiba Inu, and Avalanche are also in the green now.

Polkadot, Polygon, and Avalanche have spiked by more than 5% in a day. However, EOS is the most substantial gainer from the mid-cap alts following a massive 21% surge. As a result, EOS trades close to $1.8.

ATOM is another impressive performer, with a 15% daily surge taking the asset to over $11.

Overall, the crypto market cap has remained above $1 trillion after adding $30 billion in a day.

Cryptocurrency Market Overview. Source: Quantify Crypto
Cryptocurrency Market Overview. Source: Quantify Crypto
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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.

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