BTC Retests $70K as BNB Flips XRP

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The battle for the fourth position in terms of market cap continues, but this time, BNB has come on top.

The rather calm behavior during the weekend has worked in favor of bitcoin, at least for now, as the asset has steadily climbed above $70,000 after the rejection on Saturday morning.

Most larger-cap altcoins are also in the green, with ETH trading above $2,100 and SOL close to $90. HYPE is among the few alts deep in the red today.

BTC Taps $70K
The previous weekend brought unexpected volatility to the cryptocurrency markets. The largest of the bunch dumped from $84,000 to under $76,000 on Saturday night and tried to recover to $79,000 on Sunday. However, it was stopped there, and the bears resumed control during almost the entire business week.

After initiating several smaller and less painful leg downs, they stepped up on the gas pedal on Thursday, causing another market calamity. In just over 24 hours, they brought BTC to its knees, pushing it from $77,000 to $60,000 on Friday morning, its lowest price in well over a year.

The cryptocurrency rebounded sharply after this massive decline, and bounced to $72,000 on Friday evening and Saturday morning. It couldn’t proceed further and was pushed down to $68,000 yesterday. Now, though, it has jumped to just over $70,000 after a 2.3% daily increase.


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