CryptoCurrency News - June 27, 2022

Bitcoin kept climbing in the past 24 hours and reached a ten-day high of just under $22,000. Most of the altcoins have retraced slightly in the same timeframe, except for Dogecoin, which is up by over 9%.

Bitcoin Rejected at $22K

After bottoming at $17,500 last Sunday, an 18-month low, the primary cryptocurrency began its recovery on Monday and quickly reclaimed the coveted $20,000 line. It dipped below a few times in the next couple of days but stood north of it for longer periods.

The bulls even attempted to push it further upwards, but BTC was stopped at $21,500 mid-week. Nevertheless, another leg up came in the past 24 hours that saw an even higher price tag.

After mainly staying calm during the weekend, bitcoin went on the offensive and reached $21,900 (on Bitstamp) – this became the highest price line BTC had seen since June 16.

However, it was rejected there and retraced by over $1,000 in hours. As of now, it has reclaimed some ground and stands above $21,000. Its market capitalization has remained above $400 billion, while the dominance over the altcoins sits still at 42.5%.

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BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

DOGE Leads

Similar to bitcoin, most altcoins remained relatively calm during the weekend. Nevertheless, the start of this week brought some good news for Ethereum as it managed to break its longest negative streak of 11 consecutive weekly candles in the red.

This happened after ETH recovered more than $300 in the past seven days and jumped above $1,200.
On a daily scale, most alts are slightly in the red, though. This includes Ripple, Cardano, Solana, Polkadot, and the recent high-flyer – Shiba Inu.

In contrast, TRON has jumped by around 6% and has neared $0.07. Dogecoin has stolen the show from the larger cap alts and is up by 9%. As a result, DOGE now stands close to $0.08.

The cryptocurrency market capitalization has also remained calm on a daily scale and sits at just over $950 billion.

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

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Cryptocurrency charts by TradingView.


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