Bitcoin Rebounds From New Monthly Lows, Ethereum Reclaims $2K: Market Watch

After a sluggish weekend with little to no noteworthy price movements, bitcoin’s volatility returned on Monday morning with a dip to a new monthly low and an impressive rebound. Most large-rcap alts are slightly in the green on a daily scale, and ETH has emerged as one of the top performers, having surged to over $2,050 as of press time.

Key takeaways

Quick scan — what you need to know:

• After a sluggish weekend with little to no noteworthy price movements, bitcoin’s volatility returned on Monday morning with a dip to a new monthly low and an impressive rebound.
• Most large-rcap alts are slightly in the green on a daily scale, and ETH has emerged as one of the top performers, having surged to over $2,050 as of press time.
• BTC Drops and Pumps Bitcoin went on a massive run last Monday after Trump’s claims that the US and Iran had made progress with their war negotiations, jumping from $67,500 to almost $72,000.
• It dropped to $69,000 after Iran denied Trump’s statements, but resumed its rally on Wednesday when it tapped a weekly peak at $72,000.

Background

What led here, in plain terms:

• This resistance was too hard to overcome, and BTC quickly began to nosedive.
• The culmination during that business week was on Friday, when the cryptocurrency dropped to $65,600 for the first time in about four weeks.
• It managed to rebound to over $66,000 almost immediately, and spent the weekend trading sideways between that lower boundary and $67,000.
• It dipped once again earlier this morning to a new monthly low at just under $65,000 before it jumped to nearly $68,000, where it was stopped after the latest developments on the war front.

Why it matters

Why readers and decision-makers should care:

• The total crypto market cap has recovered $40 billion since this time on Sunday, and now sits above $2.4 trillion on CG.
• Cryptocurrency Market Overview March 30.
• Source: QuantifyCrypto The post Bitcoin Rebounds From New Monthly Lows, Ethereum Reclaims $2K: Market Watch appeared first on CryptoPotato.