Bitcoin Surges Above $31K on BlackRock’s ETF Refiling, Aptos Witnesses 10% Jump: Market Watch

Notable Altcoin Gainers: APT, MKR, FXS, and LEO

Apart from APT, other cryptocurrencies such as MKR, FXS, and LEO have experienced significant price gains, making them stand out in the market.

Bitcoin Breaks the $31,000 Barrier

After a period of relative calm, bitcoin has taken a bullish turn, surpassing the $31,000 mark yesterday, demonstrating its strength and potential for further growth. This was the highest daily close since June 6th 2022.

Bitcoin/USDT Daily Chart

Minor Volatility in Larger-Cap Altcoins, LTC and BCH Experience Downtrend

While most larger-cap altcoins have exhibited minor volatility in the past 24 hours, it is worth noting that LTC and BCH have faced a decline of over 3%, deviating from the overall trend.

Cryptocurrency Price Heatmap – QuantifyCrypto

Bitcoin’s Week of Stability Disrupted by SEC Warning

Throughout the previous week, bitcoin traded within a tight range of $30,000 to $31,000, displaying stability. However, the situation changed on Friday when the Securities and Exchange Commission (SEC) issued a warning regarding recent Spot BTC ETF filings, expressing concerns about their adequacy.

Price Action in Bitcoin After Wall St Article

Immediate Price Impact and Swift Recovery

Following the SEC’s warning, the price of bitcoin experienced a rapid decline, dropping by over $1,500 and reaching a 10-day low of $29,500 on Bitstamp. However, this dip below the $30,000 level was short-lived as BTC swiftly rebounded. The bulls regained control, propelling the price upwards by $1,000, and eventually stabilizing around $30,500 for the remainder of the weekend and into Monday.

Bitcoin’s Recent Volatility and BlackRock’s ETF Refiling

In the past 12 hours, bitcoin has witnessed increased volatility, surging above $31,000. This significant move follows the news of BlackRock’s refiling for its spot Bitcoin ETF. Although bitcoin has not decisively surpassed this level yet, it currently remains just below it.

Price Action in Bitcoin After Blackrock Refiles ETF

Bitcoin’s Market Capitalization and Dominance

Despite the ongoing fluctuations, bitcoin’s market capitalization has surpassed $600 billion, reaffirming its dominance over other cryptocurrencies. Currently, its market dominance stands at 49.6%, reflecting a regained foothold in the market.

Bitcoin Dominance Weekly Chart

APT Experiences Noteworthy Surge of 9.5%

In recent weeks, Litecoin and Bitcoin Cash performed exceptionally well, reaching 14-month highs above $110 and $320, respectively. However, both have retraced by approximately 3% to 4% since yesterday. Among the top gainers, LEO stands out with a remarkable surge of over 7%, approaching the $4 mark. Notably, Aptos has also witnessed a substantial increase of 9.5%, pushing its value well above $8.

Aptos/USDT Daily Price Chart

Total Crypto Market Cap and Daily Growth

The total crypto market cap has been steadily increasing, adding billions of dollars each day. It currently stands at over $1.210 trillion on CMC, showcasing the overall growth and resilience of the cryptocurrency market.

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