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Bitcoin Spikes to $37K, Erasing Saturday Drop

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Sun, 06/13/2021 - 17:49
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Alex Dovbnya
Bitcoin has managed to reclaim the $37,000 level
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. 

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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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.