Bitcoin’s troubles continued over the past 24 hours and the asset hit a new two-month low before rallying over a thousand.
Altcoins are in the green today, with LDO taking center stage with a massive double-digit price surge.
BTC pump and dump keep rolling
The main news last week came when US CPI figures for April indicated that inflation rates had slowed and were actually below expectations. Bitcoin initially reacted positively to the news and rose from $27,500 to nearly $28,500 within minutes.
However, the landscape has changed rapidly and the cryptocurrency has fallen by more than a grand. More volatility in the opposite direction followed before the asset finally calmed down to its starting point of $27,500.
That was short-lived, however, as Thursday and Friday brought more pain for the bulls. This resulted in a price drop to $25,800 late last night, which became BTC’s lowest position in about two months.
The bulls finally stepped up the gas at this point and pushed bitcoin north. As a result, BTC pumped and hit $27,000. However, it has not yet been able to recover this level and is now a few centimeters below.
Nevertheless, its market capitalization approached $520 billion, but its dominance over altcoins is slightly lower at 46.3%.
LDO steals the show
Alternate coins have also suffered badly over the past few days, but most have now turned green. ETH, for example, went from $2,000 to $1,700. A slight daily increase pushed it to $1,800. Binance Coin, Cardano, Dogecoin, Tron, Litecoin, Shiba Inu, and Avalanche posted similar daily gains.
Solana jumped the most of the larger cap alts. SOL is up about 5% and sits above $20. ARB, ApeCoin and Near Protocol added similar percentages over the past 24 hours.
Nevertheless, the day belongs to the Lido DAO. LDO has climbed over 13% on a daily scale and is trading around $1.9.
The total crypto market cap has added over $30 billion since yesterday’s low and currently stands at $1.2 trillion.
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