October 3, 2022

Bitcoin Soars $2K Following Musk’s Tweet: THETA Top 9 After 100% Weekly Gains (Market Watch)

2 min read

Following another slump towards $53,500, bitcoin has recovered some ground and has overcome $56,000. The majority of altcoins have likewise bounced off considering that the most recent drops, with BNB taking back the third position in terms of market cap and THETA strengthening its leading 10 position with another double-digit surge.

Bitcoin Adds 3% Following Tesla News?

The previous numerous days didn’t go well for the main cryptocurrency. After touching but getting rejected at the coveted $60,000 cost line on Saturday, bitcoin lost approximately $7,000 to just beneath $53,000, as reported yesterday.

In the past 24 hours, the scenario seemed somewhat more positive as BTC leapt to nearly $56,000. However, the bears regained control once again and drove BTC back down to an intraday low of $53,500.

Around at that time, Tesla’s Elon Musk stated that his electrical automobile giant will officially start accepting bitcoin as a means of payment. Perhaps even more significantly, he noted that all BTC the company gets will be “kept as bitcoin, not transformed to fiat currency.”

Keeping in mind the history in between Musk’s recommendations and BTC’s rate, the asset jumped by over $2,000 in a matter of hours and currently sits north of $56,000.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView Alts Attempt Recovery; BNB Back in Top 3 The majority of the altcoin market suffered in the previous couple of days also. Ethereum dropped from above $1,800 to $1,650, however the second-largest cryptocurrency has restored some ground too ever since. Following a small boost, ETH is back above $1,700.

Binance Coin dropped beneath $250 yesterday and lost its position as the third-largest digital property to Tether (USDT). Similar to ETH, though, a minor dive has actually helped BNB in reclaiming the top three area with a cost of $260.

Cardano (3%), Polkadot (1.4%), and Litecoin (5.5%) are in the green too. In contrast, XRP (-2%) and UNI (-7%) have lost some worth. UNI’s cost slump is somewhat unexpected as the decentralized exchange behind the governance token announced the long-anticipated V3 upgrade news previously.

THETA is again the most outstanding large-cap gainer with a 26% surge. As such, the possession has solidified its position within the leading ten, while Chainlink (1.5%) is out.

Cryptocurrency Market Overview. Source: Quantify Crypto
Cryptocurrency Market Overview. Source: Quantify Crypto Additional gains come from Ankr (38%), Harmony (37%), MVL (32%), Curve DAO Token (30%), Theta Fuel (27%), Ontology (25%), Enjin Coin (21%), ICON (18%), PancakeSwap (15%), and Flow (13%).

Eventually, the crypto market cap has actually included $60 billion and is well above $1.7 trillion.