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Bitcoin Bulls Fight for $17K, Ethereum POW (ETHW) Skyrockets 20%: Market Watch



Ethereum POW and Terra Classic have both surged by double digits today.

After tapping yet another two-week high above $17,000, bitcoin has returned to that particular level.

Most altcoins are a lot calmer today, with a few exceptions, such as LUNC, TWT, and ETHW.

Bitcoin Fights for $17K

Ever since last week’s price drop to a two-year low and the sideways trading during the weekend at $16,500, the primary cryptocurrency was showing signs of minor recovery amid speculations that this bear cycle could be at its end.

This resulted in a price pump toward and beyond $17,000. In fact, the asset charted its highest price point in over two weeks yesterday at $17,250 (Bitstamp).

However, the bears intercepted the move and pushed BTC south again. As of now, the cryptocurrency trades at around $17,000, down less than a percentage on a daily scale.

Its market capitalization has remained above $325 billion, while its dominance over the altcoins has increased slightly to just over 38%.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView


The altcoins also charted some impressive gains in the past few days, but most have calmed now.

Ethereum went from under $1,200 to a multi-week high of its own at over $1,300. Now, though, a minor daily retracement has pushed it back down below the latter.

Binance Coin, Ripple, Dogecoin, and Solana are with daily losses as well of up to -3%. Cardano, MATIC, OKB, LTC, Shiba Inu, and TRX are with insignificant gains or losses.

Polkadot has surged the most from the larger-cap alts. 2.6% increase has driven DOT to $5.5. Ethereum POW, Trust Wallet Token, and Terra Classic are today’s top performers, all up by double-digits.

The first two have jumped by about 20% to $4 (ETHW) and $2.5 (TWT). LUNC, on the other hand, trades at $0.00018 after an 11% increase.

The crypto market cap has remained relatively still as well at $850 billion.

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

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