Market Recovery – BTC Eyes $38,000, Alts in Green

The crypto market seems promising after the latest Elon Musk-influenced dump. The virtual trading space recovered almost $100 billion as the world’s best coin touched $38,000.

Bitcoin enthusiasts can now rejoice after several weeks of turmoil in the market. That is after the leading virtual coin neared $38,000. On the other hand, most altcoins surged harder over the last 24 hours, Ethereum trading at about $2,800 and Binance Coin climbing well over $400.

BTC Recover from the Latest Musk Dump

After the last weekend plummet where Bitcoin crashed below $34,000, the leading crypto performed well during weekdays. Bitcoin rose gradually for some consecutive days to break over $37,000.

The bulls drove Bitcoin to the highest point of the six days, at about $39,500. However, as this had happened many times over the last few weeks, the coin failed to go higher. The opposite – the world’s best asset started to retrace after another debatable tweet by Elon Musk. Following the heartbroken tweet from Tesla’s CEO, Bitcoin plunged by $4,000 to trade at $35,500, the lowest of the day.

Nevertheless, bulls stepped in once more for a northward movement. When publishing this content, Bitcoin is trading just above $37,500, as its market cap reclaimed $700 billion.

Altcoins in Green

The alternative coins suffered more during the market correction yesterday. ETH, the leading altcoin, plummeted under $2,600, though recovered impressively to trade nearly $2,800 at the moment.

Binance Coin was not an exception either, dropping below $370 with the correction. However, of all the top ten cryptocurrencies, BNB spiked the highest in the last 24 hours. That is after the altcoin surged by 10%. With that, the asset regained its $400 mark, trading at $420 at the moment.

Other altcoins that are in green include: