Despite slumping to $55,000 intraday on Friday, Bitcoin managed to recover the losses, spike above several resistance levels, and set the much anticipated new all-time high over the weekend.
Volatility has been very high over the weekend as it has dipped by over $5,000 during the weekend. Most larger-cap altcoins also went through the turbulence but have calmed on a 24-hour scale, with Ethereum experiencing high volatility also.
Bitcoin weekend exploits
After coming close to its previous ATH at $58,400 severally, it was faced with severe rejection driving the asset south with a few thousand dollars. However, on Saturday, the attempts received a green light.
BTC broke the previous February all-time high price and continued a little below $60,000 for a while before finally bursting the bubble. The bulls who took charge of the market shattered the $60K price tag and registered the latest ATH at $61,800.
The crypto has enjoyed a steady upward movement, having plummeted to $43,000 two Sundays back. The impressive price surge had positive effects on bitcoin’s market cap, which is well above $1.1 trillion as of now.
Volatility plays hard as altcoin market all red
At press time, despite the new all-time high crypto has painted during the weekend, high volatility is tormenting the entire market as the market overview shows all red at press time.
However, when previously monitored by BlocDesk, the weekend surge was rubbing well on the market as Etherum breached $1,900 intraday, but a slight decline has taken it just shy of that level. It has surged by 7 percent in the last 24-hours, however.
The rest of the top ten coins have painted more modest gains during the weekend.Binance Coin (0.5%) is above $270, Polkadot (3%) is north of $37, Cardano (3%) is just shy of $1.10, Ripple (2.4%) trades at $0.45, UNI (2%) is close to $33, and Litecoin (1%) is at $221.
HOLO is the most impressive gainer in the past 24 hours, with a 105% surge to $0.006. Pundi X (60%), Decentraland (40%), Hedera Hashgraph (30%), BitTorrent (30%), Helium (27%), and Filecoin (20%) follow.
Ultimately, all cryptocurrency assets’ cumulative market capitalization also registered a new ATH record of $1.850 trillion.