Market Watch: Will BTC Finally Reclaim $25K? OKB Breaks New All-time High
Bitcoin’s volatile performance as of late continued in the past 24 hours as the asset touched $25,000 once again before falling back down by $500.
Several altcoins are well in the green as well, with OKB stealing the show and tapping a new all-time high beyond $50.
Bitcoin Stopped at $25K Again
It was just several days ago when the primary cryptocurrency had dipped to $21,500 amid the ongoing regulatory scrutiny by the United States authorities. However, the landscape changed in an instant as the bulls came to play.
In a matter of a day, they pushed bitcoin from $21,500 to a multi-month high of just under $25,000. Although BTC was unable to overcome that level at first, it finally did so hours later, reaching its highest price tag since August 2022.
The bears intercepted the move and drove BTC south hard, dumping it to under $24,000 yesterday. Nevertheless, bitcoin is back on the right track today as it pumped beyond $25,000 once again hours ago.
It has retraced by around $500 since then, but it’s still 3.3% up on the day. Its market capitalization has neared $475 billion, while its dominance over the alts stands firm at 42.5%.
OKB’s Latest ATH
Ever since the collapse of FTX and the subsequent need for proof-of-reserves from exchanges, OKX has been at the forefront, and its native token has been on a roll. OKB exceeded $50 a few days back to chart an all-time high. It retraced slightly yesterday, but it’s back on the move again today, tapping yet another peak following an 8% daily increase.
MATIC and Polkadot are the other today impressive gains from the top 10 altcoins. Both are up by between 6-8%. Although in a more modest fashion, Ethereum, Binance Coin, Cardano, Ripple, Shiba Inu, and Dogecoin are also in the green on a daily scale.
Filecoin was yesterday’s top performer and has done it once again now. FIL has soared by another 14% and trades close to $7.5.
The total crypto market cap has reclaimed $1.1 trillion after gaining $30 billion in a day.
