Market Overview: Friday Bounce Brings Bitcoin Back On Track – Altcoins Bullish Too
Friday brought relief to the market as Bitcoin rallied over 4%. The bullish sentiment also brought gains for altcoins, which also enjoyed big gains.
After a turbulent week for the crypto market, things finally seemed to turn around on Friday. Thursday’s massive sell-off was greeted with green across the board on Friday.
Whether Bitcoin (to buy Bitcoin at eToro guide) or the Bitcoin Revolution majority of altcoins, all gained on Friday. Friday will be the first day in a week that Bitcoin could close bullish; after the last six days all ended with Bitcoin heading south.
Bitcoin’s price is currently resting around $54,900.
Big alts bounce with bitcoin
Unsurprisingly, along with Bitcoin’s rally on Friday, the rest of the market saw similar gains. The top 10 recovered somewhat after heavy losses on Thursday.
The most notable gainer on Friday was Cardano, up 9%, even overtaking Binance Coin. Theta Network was the only major coin to see red on Friday.
Not surprising as the project is up over 44% in the last 7 days.
Top 100: Biggest winners and losers
Friday was a welcome relief for the Top 100, the biggest loser on the day was indeed Theta Network (THETA). Its 2% price decline made it the worst performing asset in the Top 100, with only two other projects seeing red numbers.
The list of top gainers, on the other hand, was far more impressive. ANKR topped the list with a massive 42.8% price increase, while BTMX was close behind with a 38.3% price increase.
Total market capitalisation rises
The rise in prices across the board saw total market capitalisation rise by over 5% on Friday. While still off the high at $1.81 trillion, the market cap recovered from $1.5 trillion to over 1.65 trillion after the bullish day.
While bitcoin and altcoins seem to be climbing together, altcoins may soon be in the spotlight. This is due to the decline in Bitcoin dominance, which now stands at 60.73%.