Bitcoin Price Struggles at $21K, EOS Soars 20% (Market Watch)

Bitcoin continues to consolidate around the $21,000 mark after dipping below that level on multiple occasions yesterday.

Most altcoins are well in the green on a daily scale, with EOS emerging as the most impressive gainer following a double-digit price surge.

Bitcoin at $21K

The primary cryptocurrency fell hard last week, dumping from a multi-month high of over $25,200 to a multi-week low of under $21,000. This all happened in less than seven days.

As such, when the weekend arrived, the asset had calmed and traded mostly in a range between $21,000 and $22,000. The start of the current week also lacked any firecrackers. Yesterday saw a few price dips below $21,000 but BTC managed to recover those losses rather immediately.

As of now, the cryptocurrency has jumped to above $21,000 and stands $500 north of it. Consequently, its market cap has managed to defend the $400 billion level. Its dominance over the altcoins has also taken a breather and sits just over 40%.

BTCUSD. Source: TradingView

EOS Steals the Show

The alternative coins retraced slightly yesterday, but most have turned green today.

Ethereum had lost over $500 at one point after last weekend’s surge above $2,050. Now, though, the second-largest crypto trades confidently above $1,600 after a 5.5% daily increase.

Binance Coin is just inches away from tapping $300 again following a minor price jump. Ripple, Cardano, Solana, Dogecoin, Shiba Inu, and Avalanche are also in the green now.

Polkadot, Polygon, and Avalanche have spiked by more than 5% in a day. However, EOS is the most substantial gainer from the mid-cap alts following a massive 21% surge. As a result, EOS trades close to $1.8.

ATOM is another impressive performer, with a 15% daily surge taking the asset to over $11.

Overall, the crypto market cap has remained above $1 trillion after adding $30 billion in a day.

Cryptocurrency Market Overview. Source: Quantify Crypto
Cryptocurrency Market Overview. Source: Quantify Crypto

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Cryptocurrency charts by TradingView.

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