Bitcoin Pushing For $20K While MATIC Soars 7% (Market Watch)

After a few days of trading sideways around $19,000, bitcoin finally went on the offensive, pushing toward $20,000.

Most altcoins are also with slight daily gains. MATIC and ATOM stand out as today’s best performers, with up to 6.5% increases.

Bitcoin Eyes $20K

Ever since last week’s rollercoaster, which began by the US job report and pushed bitcoin from $19,000 to $18,200 before skyrocketing to $20,000, the primary cryptocurrency has been relatively quiet.

It calmed as the working week was coming to an end, and the weekend brought little-to-no volatility. BTC had declined to $19,000 after a late-Friday rejection at $20,000 and spent Saturday and Sunday trading sideways around the former.

Monday was also an untypically stable day, but the last 12 hours brought more fluctuations. BTC started to gain traction and spiked to $19,700 earlier today. As of now, it has retraced by a few hundred dollars, but on-chain metrics suggest that more volatility will come in the next several days.

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Bitcoin’s market capitalization is back above $375 billion, and its dominance over the altcoins has added 0.2% to 40.2% on CoinMarketCap.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

MATIC and ATOM Surge

The altcoins saw some minor gains yesterday, and the scenario has repeated once again.

Ethereum had dipped way below $1,200 during the weekend, but two consecutive days of slight increases have pushed the second-largest crypto to $1,330 as of now.

Binance Coin is back at $275 after a 1.2% daily jump. Similar gains are evident from Ripple, Cardano, Solana, Dogecoin, Polkadot, Shiba Inu, and Tron.

Polygon’s native cryptocurrency has surged the most from the larger-cap alts. MATIC is up by 6.5% and trades north of $0.85. ATOM has added 5.5% in a day and sits at $12.5.

The cumulative market cap of all crypto assets is up by around $15 billion in a day and stands at $935 billion.

Crypto Market Overview. Source: Quantify Crypto
Crypto Market Overview. Source: Quantify Crypto
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Cryptocurrency charts by TradingView.


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