Bitcoin Price Solid at $64K as Cardano (ADA) Surges 4% Daily: Weekend Watch
The cryptocurrency market is showing signs of recovery today, painted in green, with many coins attempting to bounce back.
Bitcoin’s Price Solidifies at $64K
Bitcoin (BTC) recently dropped to a low of $63,400, marking a 5-week low during a rough period in the crypto market. In the past 24 hours, bulls have managed to stabilize the price. Currently, BTC is trading around $64K.
The derivatives market has calmed down as well, with total liquidations over the past day being around $27 million, which is relatively low. The long-to-short liquidation ratio is also balanced, indicating both buyers and sellers are trying to find their footing.
Altcoins Recover, ADA Soars 4%
Altcoins are also making a recovery, with most showing modest gains. For instance, XRP is up 0.6%, SHIB increased by 1.3%, SOL grew 0.5%, and ETH rose 0.86%.
Cardano (ADA) and Other Gainers
Some altcoins outperformed others. Cardano (ADA) surged by 3.7% in the past 24 hours, standing out as a strong performer. Toncoin (TON) jumped by 6%, making it the top large-cap altcoin. Other significant gainers include:
- AVAX: up 3%
- PEPE: up 4.12%
- MATIC: up 3%
Of the top 100 cryptocurrencies by total market capitalization, the best performer is JASMY, which climbed 11%. It is followed by BRETT and Kaspa (KAS), both increasing by 7.7%.
Notable Decliners
On the flip side, Fetch.AI (FET) dropped by 4.4%, making it the worst performer of the past 24 hours.
The cryptocurrency market is exhibiting signs of stabilization, but it's still early to claim a full recovery. Stay tuned for further updates on market dynamics.
