Bitcoin Reclaims $28K, Closed its Third Best March in History (Weekend Watch)

Bitcoin bounced off in the last hours of March, reclaiming $28,000 and posting a 23% price increase for the third month of the year.

Several altcoins are also well in the green, with ETH surging past $1,800, while SOL has returned to over $20.

BTC Back Above $28K

The primary cryptocurrency has been on a rollercoaster for the past several days. It dumped by $1,500 on Monday when the US CFTC sued Binance and Changpeng Zhao before the bulls intercepted the move and pushed the asset north hard.

Just a few days later, bitcoin found itself surging beyond $29,000. However, that was short-lived as well, and it started losing value quickly in the following days. Thus, BTC dumped to $27,600 on Friday.

The end of the last day of March, however, was more positive for the cryptocurrency as it regained over $1,000 in hours and went to a daily high of $28,800 (on Bitstamp).

Despite failing to continue upwards and losing a few hundred dollars since then, BTC still stands in the green on a daily scale and trades above $28,000.

Its market capitalization has neared $550 billion once more, while its dominance over the altcoins is close to 46.5%.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

LTC, TONCOIN on the Rise

The alternative coins also felt their fair share of volatility lately, but most have calmed as the weekend started. Ethereum is back above $1,800 after a minor 2% daily increase. Binance Coin remains essentially at the same spot as yesterday, while Cardano, MATIC, Polkadot, Shiba Inu, Tron, and Avalanche have mimicked ETH’s gains.

Ripple, one of the best performers in the past 10 days or so, is down by 6% but still trades above $0.5.

Litecoin and TONCOIN have surged the most from the top 20 alts. LTC is up by $6 and sits at $93, while TONCOIN has added 8% of value in a day and stands at $2,25.

The total crypto market cap has erased the losses from Friday and sits close to $1.2 trillion on CMC once again.

Cryptocurrency Market Overview. Source: Quantify Crypto
Cryptocurrency Market Overview. Source: Quantify Crypto

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Cryptocurrency charts by TradingView.

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