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Double-Digit Gains From These 2 Altcoins as Bitcoin Reclaims $77K: Market Watch

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Although bitcoin remains deep in the red on a weekly scale, the asset has managed to post a minor recovery in the past 24 hours and now sits above $77,000.

Most larger-cap altcoins remain quite sluggish, with insignificant gains. ETH is above $2,100, BNB remains north of $640, but XRP is in the red again.

BTC Above $77K

Bitcoin tapped $82,400 on May 11, but it turned out to be another fakeout. The subsequent rejection, perhaps driven to an extent by the increasing inflation in the US, drove the asset to under $79,000 in just a couple of days. However, the positive news on the CLARITY Act front sent it flying back to $82,000 on Thursday.

The scenario repeated once again as the bears quickly stepped up. The decline that began last Friday has been even more profound, as the asset dumped below $80,000 by Saturday and fell to under $78,000 on Monday. The bears drove it further south that afternoon to a three-week low at $76,000.

Bitcoin finally rebounded after losing $6,000 in days and jumped toward $77,000. Although it was stopped there yesterday, it has managed to reclaim that level as of now, trading close to $77,500.

Its market capitalization has climbed slightly to $1.550 trillion, while its dominance over the alts remains tall at over 58% on CG.

BTCUSD May 20. Source: TradingView
BTCUSD May 20. Source: TradingView

Double-Digit Gainers

As mentioned above, there’s little to no reportable action on the larger-cap alt front. Ethereum has defended the $2,100 support, while BNB stands around $645. XRP continues to underperform with a minor daily decline, similar to those from DOGE and ADA.

The two largest privacy coins have jumped the most from this cohort of assets, with ZEC up by 4% and XMR gaining 3%. UNI and WLFI are also in the green, while XLM and BCH are with 3% declines.

VVV and XDC have stolen the show today, being the only double-digit gainers. The former has rocketed by 20% to $17.3, while the latter is up by 12% to $0.036.

The total crypto market cap has recovered around $40 billion in a day and is up to $2.660 trillion on CG.

Cryptocurrency Market Overview May 20. Source: QuantifyCrypto
Cryptocurrency Market Overview May 20. Source: QuantifyCrypto

 

The post Double-Digit Gains From These 2 Altcoins as Bitcoin Reclaims $77K: Market Watch appeared first on CryptoPotato.

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