After falling by nearly $4,000 in a day, bitcoin reacted well and bounced off to above $46,000. Many altcoins are also in green today. You can see impressive gains in Ethereum, Binance Coin and Solana as well as Avalanche (NEAR Protocol), AxieInfinity, and other altcoins.

Bitcoin Reclaims $46K

Last week started with a notable price surge from bitcoin when the asset spiked from $45,000 to just under $48,000 to mark its highest price tag since early January. Although it failed to break that price, it was able to do so one day later.

After tapping a three-month high, the cryptocurrency stalled for the next few days and remained between $47,000 and $48,000. This changed on March 31 when BTC slumped from $47,700 to just over $44,000 in a matter of hours.

Nevertheless, bitcoin reacted well to this price drop and started recovering value almost immediately. As such, it spiked to and above $47,000 a few hours back. Despite retracing to $46,600 as of writing these lines, BTC is still over 3% up on the day.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

AXS, and NEAR Lead The Way

Altcoins suffered the same fate yesterday, but today’s situation is vastly different.

Ethereum dropped to around $3,300, but a 6% increase since then has pushed the second-largest cryptocurrency to just under $3,500 as of now. This is ETH’s highest price in nearly three months.

Binance Coin has added around 5% of value in the past 24 hours and sits at a two-month high at $450. Other notable gains include Terra (7.5%) and Terra (6%), Avalanche (7%) and Dogecoin (5%) respectively. MATIC (5%) also saw impressive gains.

Ripple and Cardano are also in green, but with smaller gains.

NEAR Protocol, and Axie Infinity are the stars of the show. NEAR is up by almost 20% and sits above $15. Axie Infinity has jumped by around 12% on a daily scale, despite the recent hack against Ronin, and sits above $70.

The crypto market cap has recovered roughly $100 billion since yesterday and is above $2. 150 trillion once more.

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