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Bitcoin Price Is Heading Towards a Steady Recovery While the Rest Altcoins Pack Follow!

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Bitcoin and Altcoins seem to be catching the pace and trying to make a comeback after the recent bloodbath in the crypto market. While Bitcoin price touched the $40,000 mark, other Coins too have recovered their losses with ETH above $2,700 and BNB nearing $400.

Since hitting a low of $1.450 trillion two days ago, the total value of all crypto assets has risen to $1.750 trillion.

Major cryptocurrency’s last few days have been anything but routine. Following a price correction last week in response to negative news from Tesla and China, the situation deteriorated on Wednesday, owing to too many leveraged positions.

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After the worst dip ever, Bitcoin jumped over $10,000. It rebounded hours later after retesting support at $30K and hit over $40K. Despite this, the primary cryptocurrency has had a rough week, with its price falling by more than 20%.

Overall, bitcoin’s price is approaching a major stumbling block around $42,000. If BTC continues to fail, a decrease to $38,000 or even $36,500 is possible in the immediate future.

The majority of big altcoins have plummeted in value. ETH Price dropped by more than 20% and even fell below $2,500. The XRP/USD pair followed a similar trend, falling to $1.10.Furthermore, meme coins such as Dogecoin and Shiba INU are facing market wrath, with both coins falling by more than 21% and 32% in a day-chart, respectively. Bitcoin Cash plummeted below $300, and so on. However, most have regained a significant portion of their losses since then.

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In the last 24 hours, Ethereum has risen 5% to just over $2,700. Binance Coin (8.5%) is approaching $400 once more. Cardano Price has risen 6% to $1.7, Dogecoin has risen 8% to $0.04, and Polkadot has risen 4% to $28.

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