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29 March 2024
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While Bitcoin Maintains $50K, Bitcoin Cash ABC Up 50% (Market Watch)


While bitcoin has remained relatively calm around $51,000, BCHA has gone on a tear with a massive 50% daily surge.

Despite retracing after the latest two-week high by several hundred dollars, bitcoin has remained above $50,000. Most altcoins are also slightly in the red following yesterday’s gains, with a few exceptions, such as Bitcoin Cash ABC, which is up by 50%.

Bitcoin Maintains $50K

Following a few consecutive weeks of consistent price drops, bitcoin finally initiated an impressive leg up yesterday, in which it broke above $50,000. Moreover, the cryptocurrency kept going upwards in the following hours and tapped a new two-week high of almost $52,000.

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However, BTC failed to continue north as the bears stepped up. They pushed it south, but bitcoin still stands at around $51,000. It’s worth noting that the asset was not able to trade above $50,000 for two days in a row since the early December price crash.

The current price level means that BTC’s market capitalization has remained above $950 billion, while the dominance over the altcoins is at 40.6%.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

Alts Stall as BCHA Spikes

The alternative coins also registered notable gains yesterday. Ethereum led the charge with a surge above $4,100 just a few days after the asset struggled below $3,800. A minor decrease since then, though, has driven ETH to just shy of $4,100.

Binance Coin has remained relatively still at nearly $550. More minor losses come from Cardano, Terra, Polkadot, Shiba Inu, Litecoin, and Chainlink, while Ripple, Avalanche, and MATIC have dropped slightly more.

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Solana, Dogecoin, and CRO, on the other hand, are in the green. SOL has spiked by 2% to above $190, DOGE is up by more than 5% to $0.19, and CRO’s 7.5% increase has driven it to $0.65.

Nevertheless, Bitcoin Cash ABC is the most significant gainer from the top 100 coins with a 50% surge to above $100.

The cryptocurrency market capitalization has declined slightly and is under $2.4 trillion now

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Cryptocurrency Market Overview. Source: Quantify Crypto

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