Bitcoin jumps to three-week high above $22,000 (Market Watch)

Bitcoin has been tumbling over the past 24 hours by dropping above $22,000 for the first time since mid-August.

Most altcoins are very quiet now, with some notable gains from Solana and Uniswap.

Bitcoin more than 22 thousand dollars

Bitcoin price took a heavy dump in the middle of last week when bears pushed it to a six-week low of $18,500, however, the cryptocurrency responded well after this drop and reclaimed $19,000 soon after.

There it has been stable for a while, and not even a benchmark interest rate hike by the European Central Bank can shake it up.

On the contrary, the asset went on the offensive as the business week came to an end, rising above $20,000, and the weekend brought more gains as Bitcoin reached $21,500.

After a brief bounce there, BTC started another move higher in the past 24 hours, jumping above $22,000 for the first time since August 29. So far, everything remains to the north of this line. It has a market capitalization of $425 billion, and its dominance over altcoins is nearly 40%.

BTCUSD. Source: TradingView

Altcoins sit more quietly

Altcoins have often outperformed bitcoin in recent days, but the tide has now turned.

Fueled by the hype surrounding the upcoming merger, Ethereum went from $1,500 to nearly $1,750 in a matter of days. Right now, the second largest cryptocurrency is a little red, but it’s still north of $1700.

Ripple, Cardano, Dogecoin and Polygon also all posted minor daily losses. In contrast, Binance Coin, Polkadot, Shiba Inu, and Avalanche appear slightly green.

Solana was the biggest gainer in the majors, with a daily gain of 2.6%, and now stands at $35. Uniswap rose by a similar percentage to $6.7.

Overall, the cryptocurrency market cap added a few billion more per day and approached $1.1 trillion.

An overview of the cryptocurrency market.  Source: Quantify Crypto
An overview of the cryptocurrency market. Source: Quantify Crypto

Post-Bitcoin to 3-week highs above $22,000 (Market Watch) debuted on CryptoPotato.

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