Bitcoin Below $31K, But FIL And GRT Soar (Market Watch)

GRT has risen the most among the larger-cap alternatives, adding more than 25% to its value in one day.

Bitcoin is still going nowhere and hasn’t changed in the last 24 hours.

In the same time period, most altcoins have done a bit better, with ETH getting close to $2,000 and DOT going up by almost 5%.

Bitcoin is calming

After BlackRock applied to start a Spot BTC ETF, Bitcoin went up to over $31,000 for the first time in months two weeks ago. This was a big gain. After rising by more than $4,000 in just a few days, the coin settled down and spent most of last week trading between $30,000 and $31,000.

On Friday, it dropped sharply to a 10-day low of $29,500 after news came out that the SEC had warned against all recent Spot BTC entries. But the bulls stopped the move and didn’t let the price go down any further.

Bitcoin went up by a thousand dollars and back up to $30,500. BTC stayed around that level over the weekend, so there wasn’t much going on.

So far, Monday doesn’t seem to be very different, since the asset is again near that line. So, its market capitalization has stayed below $600 billion, and its control over altcoins has taken another hit and is now only 49.2% according to CMC. This means that in a few days, the measure has gone down by 1%.

FIL, GRT Take Main Stage

In the last 24 hours, Ethereum has gone up by 2.5%, which has brought it close to the desired $2,000 line. After a 1.5% rise in the same time period, Binance Coin is now close to $250.

Ripple, Cardano, Dogecoin. Litecoin, Solanna, Tron, and Bitcoin Cash are also in the green by a small amount. Polkadot, Polygon, and Avalanche have all increased in value by up to 5% in the last day.

Filecoin and The Graph are the ones that make the most each day, though. FIL has gone up 16% to more than $4.5, and GRT has gone up 25% to more than $0.13.

As a result, the overall crypto market cap grew by $10 billion in just one day and is now over $1.210 trillion, according to CMC.