SUI explodes 16% daily, bitcoin volatile at $26K (Market Watch)

Bitcoin has recently calmed down after increased volatility and is relatively stable at $26,000.

Altcoins turned green on the daily scale today, with BNB recovering 5% from yesterday’s multi-month low.

BTC Back To $26K

The past week was highly volatile for the primary cryptocurrency, which dropped over $1,500 on Monday as the SEC sued Binance. BTC posted another minor drop to a multi-month low of $25,400 when regulators took things a step further on Tuesday after Coinbase.

Surprisingly, in the next few hours the asset declined and added $2,000. However, it was short-lived, as it pulled back to around $26,500, where it stood for the rest of the working week.

As the weekend came to a close, bitcoin took another dive and fell back to $25,500. It tried to recover most of the losses on Monday but remained stuck in its tracks at $26,200. The past 24 hours have been relatively quiet, with BTC trading around $26,000.

Its market capitalization has managed to grow to over $500 billion, while its dominance over altcoins is still less than 48%.

Alts Goes Green

Most altcoins suffered much higher losses than BTC during last week’s carnage, which was expected given the fact that some of them were classified as unregistered securities in the SEC lawsuit.

Binance Coin is a prime example. It was trading above $315 a week ago and fell to a six-month low of $222 registered yesterday. However, BNB is up 5% on the daily scale and is trading at $235.

Rest of the large-cap alts are also in green. Ethereum, Cardano, Dogecoin, Solana, and Polygon are up up to 2% each, while XRP, TRX, LTC, DOT, AVAX, and SHIB are up more than 3% on the day.

More impressive daily gains came from UNI, ICP, HBAR, FIL, ARB, and ALGO – all of which increased by 5% or more.

SUI has been the biggest gainer among lower-cap alts in the past day with a gain of over 15%.

Overall, the crypto market cap has managed to recover $10 billion in a day and is up to $1.060 trillion.