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2 July 2022
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Bitcoin Maintains $30K, Terra’s UST Continues Crashing and Dips to $0.04 (Market Watch)

UST continues to chart new lows with the latest one coming hours ago at $0.04. Bitcoin stands just over $30,000.

Following yesterday’s drop to $29,000, bitcoin reacted well and reclaimed the coveted $30,000 line. Most altcoins are sitting calm with minor gains, while Litecoin and CRO have emerged as today’s top gainers from the larger caps.

Bitcoin Stands Above $30K

Last week’s rollercoaster, which led to BTC creating history with its seven consecutive weekly candle closed in the red, resulted in massive disruptions for the asset as it fell to an 18-month low of $25,300 (on Bitstamp).

Bitcoin bounced off at that point and jumped to and beyond $30,000, where it stood during the weekend as well. It lost some tractions yesterday as it dipped below that coveted line and went to a low of $29,000.

However, the bulls stepped up at this point and didn’t allow any further price dives. Just the opposite, they pushed BTC north, and the cryptocurrency reclaimed $30,000. As of now, it even sits close to $31,000.

Consequently, BTC’s market capitalization has increased to $580 billion, while its dominance over the altcoins stands still around 44.5%.

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

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