BTC managed to reclaim $34,000 regardless of the decreased trading volumes. That follows reports suggesting that miners began accumulating once more.
Again, the crypto market saw low trading volumes over the weekend. However, BTC surged over $1,000 in 24 hours, to trade near $34,700. As a result, altcoin bounced off, regaining some ground. Ripple’s XRP spiked by almost 5%, while Binance Coin exceeds $330.
BTC on $34K despite Low Volume
The market seemed calm in the last two weekends without significant price movements. According to Bitcoinity data, the BTC trading volume dropped to multi-month lows.
With that, the best digital coin by market dominance did not manage to produce massive price changes in any direction. The virtual currency recovered from its $32,100 low to trade near $33,000 at the initial sessions of the weekend.
On Saturday, BTC launched a rally, climbing over $34,000. However, the asset dropped to #33,000 afterward.
Meanwhile, bulls step in to control the market for northward movements to nearly $34,700 earlier on Monday. That became Bitcoin’s highest value since 7 July.
At the moment, BTC trades over $34K despite losing some dollars. That followed the news that crypto miners began accumulating currencies once more after the latest plunge.
UNI, XRP, BNB, Surge 5%
After unpredictable sentiments yesterday, most alternative coins registered impressive gains on Monday. ETH dropped beneath $2,100, but with a 2.5% surge, the second-leading crypto trades over that specific level.
Binance Coin leads the gainers after a 5.5% increase. As a result, BNB trades above $330 regardless of the current regulatory concerns by various authorities.
Uniswap and Ripple saw similar gains. With that, UNI stands at $21, and XRP hovers over $0.65.
Other larger-capitalization digital coins that managed to regain the green zone are Chainlink (+2.5%), Solana (+2%), Litecoin (+3.5%), Bitcoin Cash (+2.5%), Polkadot (1.5%), Dogecoin (+3%) and Cardano (2%).
As anticipated, the mid-and lower-cap altcoin had more fluctuations. Telcoin led the increases after surging 22%. Synthetix follows with 21% gains.
Other that follow are THORChain (+10%), Nano (+10%), Huobi Token (+11%), Aave (+11%), UMA (+12%), EOS (+12%), and OKB (+13%).
With such market sentiment, the total market cap gained about $50 billion in the past 24 hours, reclaiming $1.4 trillion.