Bitcoin Recovered $3K In One Day As SHIB Soars 11%

Bitcoin recovered $3K in one day with the crypto market cap being up by over $100 billion in one day and SHIB jumping by around 11% so let’s read more in our latest altcoin news today.

After days of consecutive price drops, Bitcoin recovered $3K bounced off and added to its value in one day. Other altcoins reacted well with Ethereum challenging $4000 and Shiba spiking by more than 10%. the past few days didn’t go well for BTC ever since the Friday push towards $50,000 with the asset struggling and dumping below $46,000 on a few occasions. The latest example came yesterday when it was reported that BTC fell to $45,500 but at that time the landscape already changed and the bulls stepped in. In the next few hours, they pushed the crypto north and BTC added more than $3000 of value and neared $49,000 for the first time in a week.

Despite being rejected at that level, BTC now stands around $48,500 and it is up by 5% in one day while Bitcoin’s market cap reclaimed the $900 billion mark.  The rest of the altcoins also suffered in the past few days but are in the green today and ETH traded below $3,800 with a 6% increase on a daily basis which drove the second-biggest crypto to $4000. Binance coin increased by 4%, Ripple by 3.5%, Solana by 3.5%, and Polkadot by 3% followed by Dogecoin that also increased 4.5%. Terra, AVAx, Shiba, and Polygon produced some of the biggest increases from 10-15% while LUNA stands above $80 and AVAX is close to $120.

More gains were evident from Harmony that increased 16%, ThorChain by 16%, and Helium by 16%. Basic Attention Token increased by 10% and Kadena by 11%. The entire crypto market cap is up by more than $100 billion in one day to $2.250 trillion.

As recently reported, The technical sell signal is about to appear on the BTC daily chart. The BTC death cross that pushed the price to $28K reappears and it is a market indicator that occurs when the short-term moving average slips below the long-term moving average. In this case, the BTC-20-day exponential moving average will close below the 200-day exponential moving average. The indicator could end up alerting the traders and the investors about a selloff in the next few sessions given the history of the bear trends predictions. For example, the 20-200 bearish crossover that appeared in May, was a key in crashing the BTC price from $36,500 to $28,800 in the 24-hours.