Market Roundup: Bitcoin Recovers to $55k, Top 10 Shakeup Continues

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Tuesday saw Bitcoin recover following a bloody Monday. Bitcoin managed to hold and recover $55,000 while the top 10 saw movers and shakers across the board.

Bitcoin had a better day on Tuesday following a bearish price action on Monday. The price declined to the $55,000 range before Tuesday commenced. However, Tuesday morning was met with further red as bitcoin proceeded to decline nearly 4%. The price tapped $53,000 before seeing a 4.6% price recover. Taking the price of bitcoin back into the green for Tuesday. Bitcoin is currently back above $55,500 and is at an important support level if it is to remain bullish. The volatility on Tuesday was evident as over $12.33 million worth of BTC was liquidated during the price action. 

Source: Tradingview

Top 10 Shakeup Continues

Tuesday saw one of the biggest shake-ups in the top 10 seen in recent weeks. Theta Network, which had a phenomenal Tuesday, climbed over 32%. The price surge saw THETA leapfrog Chainlink (LINK) and Litecoin (LTC) take the ninth spot. Cardano’s price correction continues to see it lose ground on Binance Coin (BNB) and Tether (USDT) after breaking into the top three last week. The shakeup sees another fairly newer project in THETA join the likes of UNI and DOT in the top 10. Older projects such as Dogecoin (DOGE), Tron (TRX), and EOS continue to fall down the pecking order.

Source: CoinGecko

Top 100 Biggest Gainer 

The biggest gainer in the top 100 saw another new entrant into the top 100 for the second day in a row. Yesterday’s top gainer being DENT, also climbed into the top 100 with a 32% gain on Monday. ANKR has followed suit with a dramatic 53% price increase. 

The price gain has catapulted ANKR into the top 100. The leading cause for such bullish price action is the listing of ANKR on the Coinbase exchange. Curve DAO Token (CRV) also saw a 19% price gain following news that it would also be listed on Coinbase. Theta Network’s bullishness continued as it broke into the top 10.

Source: CoinGecko

Twitter CEO Confirms 50 Bitcoin Donation for Selling Tweet 

Ending the day off on a good note saw Twitter CEO Jack Dorsey donating the proceeds of his first tweet NFT sale to charity. The finalized auction of the $2.9 million NFT sale to Sina Estavi yesterday was concluded. And Dorsey confirmed the 50.8 bitcoin transaction was sent to the Give Directly Africa fund. 

Tuesday appears to have been a better day across the market. Bitcoin, however, still seems to be confused about which direction it is looking to go. With bulls and bears being liquidated on price volatility. The rest of the week will be interesting for altcoins that have been mixed during bitcoin’s small volatility dump.  

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Ryan is a Fintech specialist with a passion for cryptocurrencies and blockchain adoption. A keen trader and investor in the market since 2016, he enjoys keeping up to date with the latest developments within the industry while finding the next 100x altcoin.

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