Crypto Market Regained $300 Billion as Bitcoin Touches $36K

Sahaj  |  May 24, 2021

The crypto market has recently managed to recover $300 billion after reaching a near 3-month low of $1.23 trillion, followed by the leading cryptocurrency Bitcoin reaching the mark above $36K. After yet another day of ache for the crypto bulls, Bitcoin has surged significantly, but most of the alternative coins are continuing to suffer which is evident by the market dominance of BTC.

Bitcoin Recovers, Crypto Market Surges

The leading cryptocurrency has been on a fall for the past few weeks and the situation of the market did not undergo any certain change during the weekend. 

Talking further about what disrupted the market more is the increasing FUD coming from China, this time linked with the miners located in the country, intensified the disruptions of the market.

Discussing the trading sessions of Friday and Saturday, Bitcoin plunged from the levels of $42K to below $34K in just a matter of a few hours.

While it did make an attempt of showing a slight recovery, the bears in the market kept on increasing the pressure and pushing it further down.

Moreover, in the past 24 hours, Bitcoin slipped to just over $31K following the halting of operations by crypto mining pools in China. However, the bulls intersected the move and turned around the path of the trajectory.

Altcoins Journey in Past Few Weeks

Well, the past few weeks have not been very nice to the altcoins as Ethereum is one of the most substantial losers in the market as it was being traded above the level of $4,400 earlier in the month of May. 

Talking about a single-day change in the price of the second-largest cryptocurrency in the world, it slipped to the level of $1,750, which is said to be the lowest price point of the asset since late March.

Binance Coin also dumped to the level of $210 marking its lowest trading price since early March.

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