BitcoinSV (BSV) has experienced a significant surge of 11% in daily gains, while Bitcoin (BTC) managed to bounce off the $29,000 resistance line, according to the latest market watch. Despite a quiet week for BTC after a price drop, the bulls were able to stabilize the situation, keeping the asset above the $29,000 mark for most of the week. Although the US Federal Reserve’s decision to increase interest rates didn’t cause substantial volatility, BTC briefly dipped to $29,000 over the weekend before recovering and trading above that level. Currently, Bitcoin’s market capitalization has climbed to over $570 billion, with a dominance of 48.2% over other altcoins.
In contrast, Bitcoin Cash (BCH), Bitcoin SV (BSV), and Optimism have seen impressive jumps in their prices. BCH has surged by 4.3% and reclaimed the $250 mark, while Optimism’s token has gained over 7% and is now trading above $1.7. However, the most notable performance comes from BitcoinSV, which has soared by double digits, reaching $40.
Meanwhile, other altcoins have mirrored BTC’s performance with little volatility. Ethereum and Ripple are slightly in the red, while Binance Coin has posted insignificant gains. Dogecoin, Solana, Polkadot, Polygon, and Shiba Inu are down by 1-2%, while TRX has experienced the largest drop among larger-cap altcoins, falling over 4% and sitting below $0.08.
Overall, the cryptocurrency market has seen a slight increase in market capitalization, surpassing $1.190 trillion. While BTC remains the dominant player, the recent surge in BitcoinSV highlights the potential for significant price movements in the altcoin market.
Please note that the information provided in this article is for informational purposes only and should not be taken as financial advice. Cryptocurrency investments are subject to market risks, and readers should do their own research before making any investment decisions.