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Bitcoin reacted positively to the most recent slump in price, jumping by a few thousand dollars to above $48,000 as of now. Today, most altcoins are also in the green, with Avalanche gaining big with a daily increase of 15%.

 

Bitcoin Touched $49K

The last few days didn’t go well for Bitcoin. It struggled with the $50,000 line, and its most recent rejection that occurred on December 12th pushed it south hard.

24 hours later, Bitcoin lost over $5,000, dumping to a ten-day low beneath $46,000. Bitcoin bounced off quickly, coming close to $48,000; however, the bears continued to harm it.

Due to this, Bitcoin dropped to just over $46,000 once again some hours later. Since then, though, the asset has gone on the offensive, spiking to an intraday high of about $49,000.

Presently, it has retraced by a few hundred dollars. However, it’s still above $48,000, with its market cap north of $900 billion.

 

AVAX Surges by 15%, Other Alts See Green

Bitcoin wasn’t the only coin to suffer, as most altcoins also did. Ethereum dropped below $4,000 again since the start of December. Although it has seen an increase of 2% in a day, Ethereum is still well beneath that line.

On a daily scale, Terra, Ripple, Cardano, Polkadot, and Shiba Inu also produced similar gains. Solana rose by 7% and presently sits around $170.

Avalanche and Dogecoin and are the most significant gainers. AVAX rose by 15% and stands around $90, while DOGE rose by 13%, standing above $0.18. This rapid increase comes after the popular blockchain project revealed that it will support USDC.

The crypto market cap has risen by $50 billion in a day and now stands around $2.2 trillion.

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