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BTC Recovering from the Effects of FTX Collapse

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Btc prices have come around where FTX crashed more than two months ago. It took bitcoin more than two months to recover from the damage caused by the collapse of the former crypto empire SBF, as the asset climbed to more than $21,000 earlier today.

Many altcoins have seen the same if not more interesting sessions in the past week, ending up with double-digit prices on Friday and early Saturday.

BTC is Over $21,000

After a violent year, which saw the destruction of the first crypto giants such as Terra, 3AC and Celsius, the end of 2022 has seen a loud and fast merger of FTX, Alameda Research and many companies. Being one of the biggest names in the industry up until that time, their crash led to a huge price drop for the entire market. Btc fell from over $21,000 to under $16,000 in a matter of days. He spent the next few weeks around the latter in a brief attempt to regain ground but to no avail.

It was at the start of the new year that the cryptocurrency finally found some relief and broke above $17,000 earlier this week. This turned out to be an important moment as BTC continued to climb and approached $20,000 last night.

The bulls stepped on the gas this time and pushed the stock above $20,000 and even above $21,000 earlier in the day. This means a complete cycle for bitcoin while FTX has fallen in about two months.

Although BTC has fallen hundreds of dollars since then, it is still climbing above $20,000 and its market capitalization is almost $400 billion. His leadership has exploded in the past 24 hours to 40.8% after dropping to 39% last week.

SOL Steals The Show

Altcoins have also been a huge attraction year-to-date, and the last 24 hours have reinforced that. For example, Solana has sold below $8 at the end of 2022. However, this continued in the following weeks, causing the price to rise above $23 earlier in the day. This means that the asset has almost tripled its USD value in about two weeks.

Ethereum rose above $1,500 for the first time in months. Binance Coin’s 6% daily rise helped it break above $300.

Green dominates the entire altcoin landscape, with Dogecoin, Polygon, OKB, Polkadot, Tron and Uniswap posting gains of up to 11% in one day. Overall, the crypto market capitalization added $80 billion per day and moved eight inches from the coveted $1 trillion line.

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