Bitcoin price touches $55K while Market Cap returns above $2 Trillion

Bitcoin struggles to return above $55K as the total market cap has finally returned above $2 Trillion. However, BTC’s dominance continues to lose ground.

The Last 7 days, have been very rough for the cryptocurrency industry with the Bitcoin suffering the most. The primary cryptocurrency has lost almost $10,000 of value leading the price from $65K to $54K. Most of the altcoins have followed BTC to the south, resulting in a $150 Billion market cap loss.

Bitcoin falls: Bears win

No matter how hard Bitcoin is trying to return above the resistance line of $55K, Bears have taken the upper hand pushing BTC to the south. The world’s largest cryptocurrency has marked by five-digit decline, losing almost $10K of value. However, Bitcoin reacted immediately and regained $6,000, leading the price just a few dollars away from $55,000.

Bitcoin price analysis. Source: BitStamp

The King of Cryptos currently struggles at around $54,800 trying to find a way to escape. In addition, its market capitalization has returned above $1 Trillion but is still bleeding in terms of dominance.

Altcoins fully in green while XRP wins the title

Most altcoins followed their King upwards having similar or even higher price increases. On Tuesday morning, the alts have increased their value even more, resulting to a fresh increase in terms of the total market capitalization.

The world’s second-largest cryptocurrency, Ethereum, has reclaimed $2,500 and currently warms up for a new ATH having an increase of almost 2.5%. Cardano is down by 4% remaining inches away from $1.30. Uniswap, Polkadot, Litecoin, and Chainlink are also members of the “greens” marking increases of +11%, +4.5% and +5.5% respectively.

All eyes are on Ripple (XRP) as the currency won the title of the best performer having an increase of 20% on a 24-hour scale.

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