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BTC Calms at $43,000 While ICP and TIA Mark Impressive Gains

03/02 18:13

BTC

5.46%

According to CryptoPotato, after experiencing enhanced volatility, Bitcoin (BTC) has finally stabilized around the $43,000 mark. Most altcoins are also uncharacteristically calm on a daily scale, with the exception of ICP and TIA, which have both marked impressive gains. Bitcoin slumped hard in the weeks following the approval and launch of nearly a dozen spot ETFs in the United States and bottomed last Thursday at $38,500. The bulls finally managed to intervene at this point and didn’t allow any further declines. Instead, BTC started climbing in the following days and reclaimed the coveted $40,000 level last weekend. The start of the business week was even more impressive, with BTC soaring past $43,000 on a few occasions and tapping $43,750. However, it couldn’t surpass that level and the subsequent rejection pushed it south to $42,000 on Wednesday and Thursday. Nevertheless, BTC bounced off once again and jumped to its current level of around $43,000. It hasn’t really moved in the past 24 hours. Its market capitalization has increased to $845 billion, while its dominance over the alts stands still at 51.1% on CoinMarketCap. Although they are known for their more volatile nature, the alternative coins have been quite sluggish in the past few days as well. Alts like ETH, XRP, ADA, AVAX, and LINK have charted insignificant gains, while BNB, DOGE, TRX, DOT, and TON are slightly in the red. Solana has also declined slightly since yesterday and has slipped below $100. MATIC is down by 3% and trades beneath $0.8. ICP has jumped the most from the top 20 alts. The asset has gained more than 6% and trades well above $13. TIA is up by 8% and has reclaimed the $18 level. The total crypto market cap stands still on a daily scale at $1.650 trillion on CoinMarketCap.

Bullish

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