Bitcoin (BTC) Eyes $43K Again, Polygon (MATIC) Shoots Up by 22% Daily (Market Watch)

Bitcoin dumped to a 9-day low of $41,600 but reacted well and has recovered over a grand since then, trading close to $43,000 once again now.

Polygon’s native token has emerged as the top performer today, while AVAX and ATOM have retraced the most from the larger-cap alts.

BTC Looks Toward $43K

The past few days didn’t go all that well for the primary cryptocurrency, which started from the weekend rejections at $44,000. After two unsuccessful attempts to overcome that level, BTC headed straight south.

At first, the asset dumped below $43,000 and managed to recover most of the losses, but it started losing ground yesterday once again. The landscape worsened late last night when bitcoin dumped to $41,600 on Bitstamp for the first time since December 18.

Nevertheless, the bulls managed to intervene at this point and didn’t allow any further declines. Just the opposite, BTC started regaining value and currently trades over a grand higher at nearly $43,000.

Its market capitalization has remained at around $835 billion, while its dominance over the alts has taken another minor hit and is down to 50.4% on CMC.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

MATIC Takes the Main Stage

Most larger-cap altcoins sit with minor losses or gains over the past day. Such is the case with Ethereum, Ripple, Cardano, Solana, Dogecoin, Polkadot, Tron, Chainlink, and Toncoin.

In contrast, Binance Coin has soared by almost 7% and sits close to $300 for the first time in months. Uniswap and Bitcoin Cash have risen by about 7% each to over $7 and $246, respectively.

Polygon’s native token has popped out as the most significant gainer over the past 24 hours. MATIC has soared by 21% and has reclaimed the coveted $1 level. Other notable increases come from the likes of ASTR (22%), MINA (21%), BSV (16%), and CAKE (15%).

The total crypto market cap has added just over $10 billion overnight and is above $1.660 trillion on CMC.

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

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