Bitcoin Holds Steady Above $97K as Altcoins Surge with Notable Gains
Bitcoin (BTC) remains stable above $97,000 despite fluctuations in the cryptocurrency sector. Altcoins, especially Mantra (OM) and XRP, have shown substantial gains, while the total market capitalization stands at approximately $3.24 trillion. Investors are reminded to conduct thorough research before making investment decisions.
The cryptocurrency market has seen minor fluctuations in the last 24 hours, maintaining its total capitalization at a level similar to that from February 14. Despite this stability, certain altcoins have experienced significant gains, while Bitcoin (BTC) remains comfortably above $97,000.
Bitcoin demonstrated resilience, recovering from a temporary dip below $95,000, reached on February 12, following higher-than-expected inflation data released by the US Bureau of Labor Statistics. The bulls responded promptly, propelling BTC to a price of $98,000. Although BTC faced subsequent volatility, it incrementally rose, peaking at approximately $98,700 before settling around $97,600, marking a daily increase of 1%.
Currently, Bitcoin’s market capitalization stands at $1.93 trillion, sustaining its dominance over altcoins at around 59.6%, according to data from CoinMarketCap. In contrast, several altcoins displayed notable performance, particularly Mantra (OM), which surged by 35% to an all-time high of $7.90. Ripple’s XRP also gained momentum, climbing 8% to reach $2.82 amidst favorable regulatory news.
Other cryptocurrencies such as Chainlink (LINK), Dogecoin (DOGE), and Shiba Inu (SHIB) exhibited increases. However, Ethereum (ETH), Binance Coin (BNB), Solana (SOL), and Cardano (ADA) recorded minor losses. The overall cryptocurrency market capitalization has risen to approximately $3.24 trillion, reflecting a 0.3% daily increase.
Investors are reminded of the potential benefits available through promotional offers, such as Binance’s welcome incentive and Bybit’s trading position offer. It is crucial for investors to conduct personal research before proceeding with any investment decisions, as the views expressed may not represent the stance of the publication.
In summary, while Bitcoin maintains a steady position, several altcoins have soared, with notable rallies from Mantra (OM) and XRP. The cryptocurrency market overall remains dynamic, with a slight increase in total capitalization. Investors are encouraged to stay informed and exercise due diligence in their investment strategies.
The cryptocurrency market remains robust, showcasing fluctuating altcoin performance even as Bitcoin holds steady above $97,000. The significant gains seen in altcoins like Mantra (OM) and XRP highlight the market’s volatility and potential for growth. Overall, investors should carefully evaluate market conditions and make informed decisions according to their financial strategies.
Original Source: cryptopotato.com
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