The Bitcoin Prize is completely recovering from the FTX crash: market observation

The Bitcoin Prize is completely recovering from the FTX crash: market observation

Bitcoin only needed a little more than two months to recover from the damage caused by the collapse of the former SBF crypto empire when the asset increased to over $ 21,000.

Most alternative coins experienced an equally impressive rally last week, which culminated in double -digit price jumps on Friday and early Saturday.

BTC exceeded $ 21,000

After a violent year, in which former crypto giants such as Terra, 3ac and Celsius tied, the loud and fast debacle of FTX, Alameda Research and countless companies experienced at the end of 2022.

Since they were one of the best -known names of the industry up to this point, their crash led to massive price returns for the entire market. Bitcoin fell from $ 21,000 to less than $ 16,000 within a few days. It spent the following weeks around the latter with short attempts to make some ground well, but without success.

At the beginning of the new year, the cryptocurrency finally experienced a certain relief and broke out over $ 17,000 at the beginning of this week. This turned out to be a key moment, since BTC continued to climb and approached the $ 20,000 mark last night.

The bulls really accelerated at this point and pressed the asset to over $ 20,000 and today even just over $ 21,000. This meant that the circle for Bitcoin closed through the FTX collapse in about two months.

Although BTC has decreased by several hundred dollars since then, it is still well over $ 20,000 and its market capitalization is almost $ 400 billion. Its dominance over the alts has exploded in the last 24 hours and is 40.8 % after it has dropped to 39 % last week.

BTCUSD. Tradingview

Sol steals the show

The old coins have also been impressive since the beginning of the year, and the last 24 hours have only consolidated. Solana, for example, fell under $ 8 at the end of 2022. In the following weeks, however, it went up, which led to a price increase to over $ 23 today. This meant that the asset almost tripled its USD rating in about two weeks.

Ethereum also rose to over $ 1,500 for the first time in months. Binance Coinder daily increase of 6% helped him to overcome the $ 300 mark.

Grün dominates the entire altcoin landscape with Dogecoin, Polygon, OKB, Polkadot, Tron and Co Uniswap Booking gains of up to 11 % in one day.

Overall, the crypto market capitalization rose by $ 80 billion daily and was only a few centimeters away from reaching the coveted $ 1 billion.

Overview of the cryptocurrency market. Quantify crypto