Ether Outperforming Bitcoin as it Climbs to $1,200

Ether climbed to just under $1,200 as it continued outperforming bitcoin.

Bitcoin has managed to stay above the $20,000 line despite recent volatility. Most altcoins are also slightly higher today, with ETH approaching a 10-day high at $1,200.

Bitcoin Remains Above $20K

Bitcoin jumped from $19,000 to $21,000 in minutes last week. However, this was just a fake breakout as the cryptocurrency quickly fell back down.

The price of the asset fell sharply following the announcement. It rose again when trading resumed on Monday, but it was still below $20,000.

On Tuesday, BTC reached and exceeded $20,000 before another roller-coaster ride, in which it fell to $19,250 and rose back up to $20,600.

After a brief drop to sub-$20K levels, bitcoin has bounced back up and is hovering around that level now. As such, its market cap is close to $400 billion, while the dominance over the alts remains at 42.4%.

BTCUSD. Source: TradingView
At the time of writing, Bitcoin was trading at $8,741. Source: TradingView

ETH Sends Local High

Most altcoins also experienced a similar drop in price recently, but they are slightly up on the daily scale.

Ethereum is up 3% since yesterday, and the second-largest cryptocurrency reached its highest price in nine days earlier today. At present, though, ETH is trading slightly lower than that.

BNB, Ripple, Cardano, Solana, Dogecoin, Polkadot and Shiba Inu have recorded insignificant daily increases. TRON is just slightly down.

Most lower- and mid-cap altcoins are also quite still on a daily scale. As a result, the overall market cap of all crypto assets is currently just over $900 billion.

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

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