Bitcoin (BTC) Stopped at $71K, Cardano (ADA) Jumps 6% Daily (Weekend Watch)

Bitcoin’s price recovery took the asset to $71,500 yesterday, but the bears interfered at this point and pushed it south by around two grand.

The altcoins are relatively sluggish today, which is somewhat expected, aside from ADA, which has emerged as the top performer.

BTC Stopped at $71.5K

The start of the business week was quite promising for the primary cryptocurrency as it jumped above $70,000 on Tuesday and kept climbing that day to a multi-month high of $73,600. As such, it came just $150 away from breaking its March all-time high of $73,740.

However, it failed to do so while the community anticipated this to occur at any given time and started losing value gradually. The most substantial correction came on Friday morning when it dumped below $69,000, thus losing three grand within hours.

The bulls stepped up during the trading day, and bitcoin climbed to $71,500 after the weaker-than-expected US jobs report for October. Nevertheless, it failed once again at that point and now sits about two grand lower.

This means that its market capitalization has dropped back down to $1,375 trillion on CG, while its dominance over the alternative coins stands tall at above 56%.

Bitcoin/Price/Chart 02.11.Source: TradingView

ADA Defies the Odds

Most of the larger-cap alts have calmed today with minor moves. On the one hand, ETH, BNB, SOL, XRP, TRX, AVAX, and LINK have charted insignificant losses of up and around 1-2%, while on the other, DOGE, SHIB, and TON have gained similar percentages.

Cardano’s native token has emerged as the only substantial gainer from the larger-cap alts. ADA has soared by 6% and now trades well above $0.35.

Other gainers worth mentioning include RAY (14%), XMR (5%), and MEW (5%).

The total crypto market cap has remained relatively still on a daily scale, at just under $2.450 trillion on CG.

Cryptocurrency Market Overview. Source: QuantifyCrypto