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Bitcoin Spikes to $37K, Erasing Saturday Drop

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Sun, 13/06/2021 - 17:49
Bitcoin Spikes to $37K, Erasing Saturday Drop
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Bitcoin, the largest cryptocurrency by market cap, managed to reclaim the $37,000 level earlier today, spiking to an intraday high of $37,282 at 5:28 p.m on the Bitstamp exchange. 

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It has now rebounded about 7 percent from its intraday low of $34,783.

Earlier this week, Bitcoin revisited the $38,000 because of El Salvador voting to adopt the largest cryptocurrency as legal tender, a decision that has likely marked the dawn of cryptocurrency geopolitics. However, the top crypto trimmed most of its recent gains during a sell-off on Saturday.

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Bitcoin is now poised to score its third consecutive week in the green. 

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When it comes to the top altcoins, none of them have managed to recover together with the king. This, of course, resulted in a substantial spike in Bitcoin dominance, which is now approaching 45 percent.      

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