Binance Coin Spiked 8% As Bitcoin Reclaims $43,000: Analysis

Binance coin spiked 8% recently right after the new addition on the Launchpad, and Bitcoin reclaimed $43,000 so let’s read more in our latest BNB news today.

Bitcoin reacted well after the latest price drop below $41,000 and then quickly spiked above $43,000 and most alternative coins continued with teh indecisive moments. However, the Binance coin spiked 8% and was the exception of the day to above $370. The enhanced volatility that BTC faced over the past few days continued a day ago as well. The reports when the crypto fell below $41,000 for the second time in a few days but the bulls drove it upwards by a few thousand dollars immediately.

However, the pain was not over yet as another price drop transpired which pushed it down to a low of $40,800 with the situation changed somewhat rapidly again and this time Bitcoin reclaimed previous levels and went higher. In a matter of hours, BTC Added another $3000 of value and tapped the intraday high of $43,800 and it retraced by several hundred dollars and stands around $43,000. Bitcoin’s market cap increased above $800 billion while the dominance over the alternative coins increased to just under 43%.

Most alternative coins failed to produce major gains in the past few days as Ethereum has been one of the biggest losers as it dropped from above $3100 to $2900 where it stood for some time. Over the past 24 hours, ETH Went on a run and increased above $3000 but as of now retraced below that level once again. Cardano continues to decline in value by another 2% and ADA stands beneath $2.1. Solana, Polkadot, Ripple and Dogecoin, TErra, and Avalanche have remained calm since a day ago.

Binance Coin outperformed the larger-cap altcoins with an 8% increase. BNB reached a new multi-day high above $370. this came a few hours after the leading crypto exchange announced the latest project to go live on the Binance Launchpad. OMG Network is the only double-digit gainer over the past 24 hours with the 13% increase and LEO that also increased by 9%. the crypto market cap added another $40 billion and now stands above $1.9 trillion.

Source: https://www.dcforecasts.com/binance-coin-news/binance-coin-spiked-8-as-bitcoin-reclaims-43000-analysis/