BCH Soars 10% After Completing Second Halving, BTC Sluggish at $66K (Market Watch)

8 months ago 4

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Bitcoin’s price slumped below $66,000 on a few occasions yesterday but managed to recover the losses and now sits just inches above that level once again.

Most altcoins are in the red today, with SOL, DOGE, and DOT losing the most value from the larger caps.

BTC Stalls at $66K

Ever since the weekend, when BTC failed to overcome the $72,000 mark, the landscape around the primary cryptocurrency has been quite unfavorable. The asset began the current business week with a substantial price decline that drove it from the $70,000 level to under $66,500.

The situation worsened a day later when Bitcoin further dropped to a 10-day low of $64,400. The bulls finally intercepted the move at this point and pushed BTC north. This culminated in a price surge to $67,000, where the asset was stopped, though.

Another $1,000 rejection followed, but now Bitcoin trades at a familiar ground of just over $66,000. This means that its market capitalization remains inches above $1.3 trillion, while its dominance stands still at 49.6% on CoinGecko.

BCH Goes on the Offensive

Bitcoin Cash has been in the news lately, given its highly-anticipated halving, which was supposed to take place in early April. After a few delays, the second such event in BCH’s history finally took place hours ago, cutting the rewards to 6.25 BCH per block.

The hype around the halving pushed the asset’s price higher in the past week or so. Despite a massive retracement yesterday, BCH is today’s top performer, with a 10% surge that has pushed it to over $670.

The other larger-cap alt in the green is BNB., which has gained 3.5%. The rest of the top 15 are in the red, with SOL, DOGE, DOT, and ICP leading the pack.

The total crypto market cap has remained at almost the same level as yesterday – just over $2.6 trillion on CG.