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Cardano (ADA) Soars 9% Daily While Bitcoin (BTC) Nears $52K Again (Weekend Watch)

Summary:
Bitcoin faced some untypical for the weekends volatility yesterday and dropped by roughly a grand and a half, but has recovered most losses and now sits close to ,000. Most altcoins have also turned green today, with ETH reclaiming the ,800 level and SOL returning to 0. BTC Heads Toward K Again After closing last week with a 13% gain, BTC started the current one with another surge on Monday that drove it to ,000 for the first time in over two years. The US CPI numbers on Tuesday brought some pain for the bulls as BTC dropped to ,500, but that was short-lived, and the asset resumed its bullish trajectory almost immediately. This led to breaking above ,000 and ,000 on Tuesday and Wednesday. Thursday saw yet more price gains, and BTC tapped ,900 to

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Bitcoin faced some untypical for the weekends volatility yesterday and dropped by roughly a grand and a half, but has recovered most losses and now sits close to $52,000.

Most altcoins have also turned green today, with ETH reclaiming the $2,800 level and SOL returning to $110.

BTC Heads Toward $52K Again

After closing last week with a 13% gain, BTC started the current one with another surge on Monday that drove it to $50,000 for the first time in over two years. The US CPI numbers on Tuesday brought some pain for the bulls as BTC dropped to $48,500, but that was short-lived, and the asset resumed its bullish trajectory almost immediately.

This led to breaking above $51,000 and $52,000 on Tuesday and Wednesday. Thursday saw yet more price gains, and BTC tapped $52,900 to chart a new multi-year peak.

This is where the rally was halted, at least for now. Bitcoin calmed in the following days, aside from a brief price drop yesterday that left $100 million in liquidations.

As of now, though, the cryptocurrency trades close to $52,000, with its market cap standing tall above $1 trillion and its dominance over the alts sitting close to 50% on CG.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

ADA Takes the Main Stage

Most alternative coins also retraced yesterday but have erased the losses today. As a result, Ethereum has returned to over $2,800 after a minor daily jump. BNB, XRP, TRX, AVAX, and MATIC are up by similar percentages.

Solana has increased by over 1% as well and has tapped $110 once again. Polkadot, Chainlink, and Toncoin have added between 3-4% of value.

Cardano has taken the main stage with a notable increase of almost 9%. As a result, ADA has jumped above $0.6 and now sits close to $0.65.

Even more gains come from the likes of FET (20%), GRT (14%), RNDR (11%), BTT (11%), and INJ (10%).

The total crypto market cap has added a few billion overnight and is up to $2.050 trillion on CG.

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

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