Bitcoin Crosses $27,000, Render (RNDR) Explodes 20% Daily: Market Watch

Bitcoin Crosses $27,000, Render (RNDR) Explodes 20% Daily: Market Watch

Bitcoin returned above $27,000 after briefly falling below that level yesterday following a slight daily rise.

Altcoins are also relatively quiet today, with Render Token, Synthetix and Mas Network taking the main stage with double-digit gains.

BTC reclaims $27,000

Last week was, at least for one, much more volatile than this one. The biggest price swings occurred after the US CPI numbers for April were released on Wednesday. BTC initially rose from $27,500 to $28,400 before plunging again by almost two grand.

After a slight rise, the asset fell sharply again, falling to a two-month low of $25,800 on Friday. The weekend was much more positive and less eventful as Bitcoin returned to $27,000 and spent most of it there.

Earlier this week, the price rose to $27,600, but this was short-lived and the cryptocurrency fell below $26,600 again. However, the last 24 hours brought a rise of almost $1,000 and BTC is now close to $27,500. This came after Tether announced a new policy that would allow the company to purchase certain amounts of Bitcoin.

With this, its market capitalization has returned to $530 billion and its dominance over altcoins is 46.6%.

BTCUSD. TradingView

RNDR is skyrocketing

The altcoins are also slightly in the green compared to the day. ETH managed to defend the $1,800 mark with a slight increase of 1%. BNB is above $310 after a similar daily rise.

Further gains are being made by companies like Cardano, Polygon, Polkadot, etc. from the larger altcoins – all up 3-4% in a day.

However, the biggest winners during this period are Render Token, Mask Network and Synthetix. All three saw double-digit increases, with RNDR taking the main stage with a massive 20% increase.

The total crypto market capitalization increased by about $15 billion in a day and is back at over $1.140 trillion.

Overview of the cryptocurrency market. Quantify Crypto